Whittier Trust Co. Sells 1,453 Shares of Flex Ltd. (NASDAQ:FLEX)

Whittier Trust Co. lowered its position in Flex Ltd. (NASDAQ:FLEX) by 44.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,831 shares of the technology company’s stock after selling 1,453 shares during the period. Whittier Trust Co.’s holdings in Flex were worth $70,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after acquiring an additional 344,773 shares in the last quarter. Boston Partners grew its position in shares of Flex by 2.2% in the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock valued at $1,006,436,000 after purchasing an additional 569,916 shares during the period. JPMorgan Chase & Co. increased its stake in Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Geode Capital Management LLC raised its holdings in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after buying an additional 3,844,935 shares during the period. Finally, State Street Corp lifted its stake in Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after buying an additional 603,208 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 2.8 %

Shares of NASDAQ:FLEX opened at $37.42 on Tuesday. The company’s 50-day moving average price is $39.64 and its two-hundred day moving average price is $37.46. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The stock has a market capitalization of $14.34 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity

In related news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FLEX has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $44.33.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.