Cyndeo Wealth Partners LLC Has $2.84 Million Stake in Flex Ltd. (NASDAQ:FLEX)

Cyndeo Wealth Partners LLC cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 10.8% during the third quarter, Holdings Channel reports. The fund owned 85,058 shares of the technology company’s stock after selling 10,337 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Flex were worth $2,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FLEX. Kathleen S. Wright Associates Inc. bought a new position in Flex in the 3rd quarter valued at about $39,000. Quarry LP acquired a new position in shares of Flex in the second quarter valued at approximately $43,000. American Capital Advisory LLC bought a new position in shares of Flex during the second quarter worth approximately $46,000. J.Safra Asset Management Corp lifted its holdings in Flex by 623.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after purchasing an additional 2,538 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in Flex in the 2nd quarter valued at $125,000. Institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $34.90 on Monday. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $35.84. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. 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 company’s 50 day simple moving average is $32.10 and its 200 day simple moving average is $30.78.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results 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. Flex had a return on equity of 16.23% and a net margin of 3.54%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. As a group, research analysts predict that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Flex news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,028 shares of company stock valued at $904,530. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FLEX shares. Stifel Nicolaus lifted their target price on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and boosted their price objective for the company from $27.00 to $39.00 in a report on Thursday, July 25th. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday. Finally, Barclays raised their price objective on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.80.

Flex 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.