Quarry LP Acquires Shares of 1,471 Flex Ltd. (NASDAQ:FLEX)

Quarry LP purchased a new position in Flex Ltd. (NASDAQ:FLEX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,471 shares of the technology company’s stock, valued at approximately $43,000.

Other hedge funds also recently modified their holdings of the company. Boston Partners raised its position in Flex by 113.8% during 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flex by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after buying an additional 127,688 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Flex by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after buying an additional 141,580 shares during the last quarter. Merewether Investment Management LP acquired a new stake in Flex in the second quarter valued at about $72,808,000. Finally, Westfield Capital Management Co. LP bought a new position in Flex in the first quarter valued at about $51,543,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the transaction, the executive vice president now owns 158,094 shares in the company, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now directly owns 175,468 shares of the company’s stock, valued at $5,576,373.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,028 shares of company stock valued at $904,530. 0.82% of the stock is currently owned by company insiders.

Flex Stock Performance

Shares of Flex stock opened at $33.47 on Friday. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 1.92 and a beta of 1.09. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $34.42. The company’s fifty day moving average is $31.17 and its 200 day moving average is $30.35. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS 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 for the quarter, compared to analyst estimates of $5.89 billion. Sell-side analysts forecast that Flex Ltd. will post 2.06 EPS for the current year.

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.