Blair William & Co. IL Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

Blair William & Co. IL boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,568 shares of the technology company’s stock after acquiring an additional 589 shares during the period. Blair William & Co. IL’s holdings in Flex were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Flex during the 4th quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after purchasing an additional 509 shares during the period. SBI Securities Co. Ltd. acquired a new position in Flex in the 4th quarter valued at about $38,000. EverSource Wealth Advisors LLC boosted its holdings in Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after purchasing an additional 704 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of Flex in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of recent analyst reports. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus began coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. Finally, Barclays raised their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research 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 MarketBeat.com, Flex presently has an average rating of “Buy” and an average price target of $44.33.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $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 owned by insiders.

Flex Trading Down 9.0 %

Shares of NASDAQ FLEX opened at $26.68 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $10.22 billion, a PE ratio of 10.76, a PEG ratio of 2.43 and a beta of 0.99. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The stock has a fifty day simple moving average of $37.83 and a 200-day simple moving average of $37.57.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

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.