Mark Sheptoff Financial Planning LLC Cuts Stake in Flex Ltd. (NASDAQ:FLEX)

Mark Sheptoff Financial Planning LLC cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 86.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,950 shares of the technology company’s stock after selling 12,150 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Flex were worth $58,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its holdings in Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock worth $599,000 after buying an additional 360 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after purchasing an additional 471 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in Flex by 8.6% during the first quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock valued at $247,000 after purchasing an additional 683 shares in the last quarter. Atomi Financial Group Inc. grew its stake in Flex by 10.2% in the second quarter. Atomi Financial Group Inc. now owns 7,984 shares of the technology company’s stock valued at $235,000 after purchasing an additional 739 shares during the last quarter. Finally, Allegheny Financial Group LTD raised its holdings in Flex by 4.8% in the second quarter. Allegheny Financial Group LTD now owns 18,415 shares of the technology company’s stock worth $543,000 after purchasing an additional 851 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLEX. Stifel Nicolaus lifted their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Barclays raised their price target on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Craig Hallum raised Flex from a “hold” rating to a “buy” rating and upped their target price for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex currently has a consensus rating of “Buy” and an average target price of $38.40.

Insider Transactions at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the transaction, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the sale, the executive vice president now owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the transaction, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock valued at $904,530 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Flex Stock Up 0.8 %

NASDAQ:FLEX opened at $31.11 on Thursday. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. The firm has a market capitalization of $12.41 billion, a P/E ratio of 13.53, a PEG ratio of 1.74 and a beta of 1.09. The company’s fifty day moving average price is $30.60 and its 200-day moving average price is $30.02.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.09. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. As a group, equities research analysts anticipate that Flex Ltd. will post 2.09 EPS for the current year.

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.