Flex Ltd. (NASDAQ:FLEX) Shares Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 400.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,097 shares of the technology company’s stock after purchasing an additional 42,496 shares during the quarter. Global Assets Advisory LLC’s holdings in Flex were worth $1,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Richardson Financial Services Inc. acquired a new stake in Flex during the fourth quarter valued at approximately $34,000. CWM LLC increased its holdings in shares of Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after acquiring an additional 773 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Flex during the fourth quarter worth $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Flex during the fourth quarter valued at $77,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Down 1.4 %

NASDAQ:FLEX opened at $30.30 on Thursday. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 2.06 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.52. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $34.12. The business has a fifty day moving average of $30.41 and a 200-day moving average of $28.30.

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

Insider Buying and Selling

In other news, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the completion of the sale, the insider now owns 151,691 shares in the company, valued at $4,443,029.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kwang Hooi Tan sold 8,027 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $29.29, for a total value of $235,110.83. Following the sale, the insider now directly owns 151,691 shares in the company, valued at approximately $4,443,029.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Lundstrom sold 35,733 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the sale, the chief financial officer now owns 507,752 shares of the company’s stock, valued at $14,547,094.80. The disclosure for this sale can be found here. Insiders have sold a total of 804,542 shares of company stock valued at $25,147,972 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLEX. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. raised their price target on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays increased their target price on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and a consensus price target of $32.83.

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.