Great Lakes Retirement Inc. Sells 1,236 Shares of Flex Ltd. (NASDAQ:FLEX)

Great Lakes Retirement Inc. decreased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 9.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,681 shares of the technology company’s stock after selling 1,236 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Flex were worth $356,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC raised its holdings in shares of Flex by 3.1% in the third quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company’s stock valued at $403,000 after acquiring an additional 452 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Flex by 3.8% during the third quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock valued at $368,000 after purchasing an additional 497 shares in the last quarter. Captrust Financial Advisors grew its stake in Flex by 5.1% in the second quarter. Captrust Financial Advisors now owns 10,165 shares of the technology company’s stock valued at $281,000 after purchasing an additional 497 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in shares of Flex by 1.7% during the fourth quarter. Atlas Capital Advisors LLC now owns 30,412 shares of the technology company’s stock valued at $653,000 after buying an additional 519 shares during the last quarter. Finally, Wahed Invest LLC boosted its holdings in shares of Flex by 8.1% in the 3rd quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock valued at $191,000 after buying an additional 530 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. StockNews.com initiated coverage on shares of Flex in a report on Wednesday, March 6th. They issued a “hold” rating on the stock.

Insider Activity

In related news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at $830,009.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the transaction, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at $830,009.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 75,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the sale, the executive vice president now directly owns 162,094 shares in the company, valued at $4,460,826.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,943 shares of company stock valued at $4,055,311. Company insiders own 0.56% of the company’s stock.

Flex Price Performance

Shares of Flex stock remained flat at $28.63 during midday trading on Thursday. 1,585,772 shares of the company traded hands, compared to its average volume of 5,420,242. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.93. The stock has a market capitalization of $12.06 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. The business has a 50-day moving average price of $26.88 and a two-hundred day moving average price of $26.43.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. As a group, analysts expect that Flex Ltd. will post 2.16 EPS for the current year.

About Flex

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.