Charles Schwab Investment Management Inc. Has $84.24 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Charles Schwab Investment Management Inc. cut its position in shares of Flex Ltd. (NASDAQ:FLEX) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,546,456 shares of the technology company’s stock after selling 29,541 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Flex were worth $84,237,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Flex during the 1st quarter worth about $26,000. Olde Wealth Management LLC acquired a new position in Flex in the 1st quarter valued at about $26,000. CX Institutional acquired a new position in Flex in the 1st quarter valued at about $29,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Flex in the 4th quarter valued at about $35,000. Finally, CWM LLC grew its stake in Flex by 73.3% in the 1st quarter. CWM LLC now owns 1,281 shares of the technology company’s stock valued at $42,000 after buying an additional 542 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research reports. Wall Street Zen upgraded shares of Flex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. KGI Securities lowered shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. The Goldman Sachs Group restated a “buy” rating on shares of Flex in a research report on Friday, July 11th. Barclays increased their target price on shares of Flex from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Finally, KeyCorp increased their target price on shares of Flex from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Flex presently has a consensus rating of “Buy” and a consensus target price of $53.71.

Flex Stock Performance

Shares of Flex stock opened at $50.35 on Thursday. The company has a 50 day moving average of $49.25 and a 200-day moving average of $41.38. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $53.97. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a market cap of $18.90 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity at Flex

In other news, COO Kwang Hooi Tan sold 12,500 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $50.25, for a total transaction of $628,125.00. Following the completion of the transaction, the chief operating officer directly owned 263,636 shares in the company, valued at approximately $13,247,709. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Scott Offer sold 6,887 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $309,983.87. Following the transaction, the executive vice president owned 148,643 shares of the company’s stock, valued at $6,690,421.43. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 673,186 shares of company stock worth $29,208,462 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

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.