21,512 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC acquired a new position in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,512 shares of the technology company’s stock, valued at approximately $617,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Flex by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 5,829,503 shares of the technology company’s stock worth $177,567,000 after purchasing an additional 248,233 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Flex in the 4th quarter worth about $34,000. Royal London Asset Management Ltd. boosted its holdings in shares of Flex by 16.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 224,114 shares of the technology company’s stock worth $6,827,000 after purchasing an additional 31,840 shares in the last quarter. Bayberry Capital Partners LP boosted its holdings in shares of Flex by 13.0% in the 4th quarter. Bayberry Capital Partners LP now owns 565,000 shares of the technology company’s stock worth $17,210,000 after purchasing an additional 65,000 shares in the last quarter. Finally, Blue Door Asset Management LLC boosted its holdings in shares of Flex by 5.2% in the 4th quarter. Blue Door Asset Management LLC now owns 806,150 shares of the technology company’s stock worth $24,555,000 after purchasing an additional 40,000 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Trading Up 0.1 %

FLEX opened at $31.62 on Wednesday. The business has a 50 day simple moving average of $30.13 and a two-hundred day simple moving average of $28.09. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79. Flex Ltd. has a one year low of $21.84 and a one year high of $34.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Flex had a return on equity of 16.46% and a net margin of 3.58%. Analysts predict that Flex Ltd. will post 2.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Monday. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and lowered their target price for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their target price on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Barclays boosted their target price on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Insider Buying and Selling at Flex

In other news, CAO Daniel Wendler sold 1,275 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the completion of the transaction, the chief accounting officer now owns 32,510 shares of the company’s stock, valued at approximately $1,017,563. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Daniel Wendler sold 1,275 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the completion of the transaction, the chief accounting officer now owns 32,510 shares of the company’s stock, valued at approximately $1,017,563. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael D. Capellas sold 78,872 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the transaction, the director now directly owns 219,037 shares of the company’s stock, valued at approximately $7,368,404.68. The disclosure for this sale can be found here. Insiders sold 804,542 shares of company stock valued at $25,147,972 in the last 90 days. Insiders own 0.56% of the company’s stock.

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.