Flex Ltd. (NASDAQ:FLEX) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in Flex Ltd. (NASDAQ:FLEX) by 12.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 37,313 shares of the technology company’s stock after purchasing an additional 4,230 shares during the period. Commonwealth Equity Services LLC’s holdings in Flex were worth $1,432,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Flex during the 3rd quarter worth approximately $429,000. Citigroup Inc. raised its position in shares of Flex by 5.9% during the 3rd quarter. Citigroup Inc. now owns 144,575 shares of the technology company’s stock valued at $4,833,000 after acquiring an additional 8,088 shares in the last quarter. Cerity Partners LLC lifted its stake in Flex by 9.0% during the third quarter. Cerity Partners LLC now owns 18,716 shares of the technology company’s stock worth $626,000 after purchasing an additional 1,538 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Flex in the third quarter worth $460,000. Finally, BNP Paribas Financial Markets increased its stake in Flex by 2,600.1% during the third quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company’s stock valued at $16,503,000 after purchasing an additional 475,376 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

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

Flex Stock Down 3.7 %

FLEX stock opened at $33.18 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $39.09 and its 200 day simple moving average is $37.58. The stock has a market cap of $12.71 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Barclays upped their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.