Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 59.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,678 shares of the technology company’s stock after buying an additional 5,852 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Flex were worth $462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners grew its holdings in Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock valued at $235,289,000 after acquiring an additional 127,688 shares during the last quarter. Vanguard Group Inc. grew its position in Flex by 2.4% during the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after acquiring an additional 141,580 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Flex during the first quarter valued at about $51,543,000. Finally, TCW Group Inc. increased its stake in Flex by 48.1% during the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock worth $50,479,000 after acquiring an additional 556,286 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX opened at $32.74 on Tuesday. The firm has a 50-day moving average of $30.75 and a two-hundred day moving average of $30.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. The stock has a market cap of $13.06 billion, a P/E ratio of 14.23, a PEG ratio of 1.74 and a beta of 1.09. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. On average, research analysts expect that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the transaction, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. 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 10,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at $5,377,327.06. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock valued at $904,530 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Stifel Nicolaus raised their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and upped their price target for the stock from $27.00 to $39.00 in a research report on Thursday, July 25th. Barclays raised their price objective on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $38.40.

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.