Creative Planning Raises Stake in Flex Ltd. (NASDAQ:FLEX)

Creative Planning increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 0.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 141,371 shares of the technology company’s stock after purchasing an additional 839 shares during the period. Creative Planning’s holdings in Flex were worth $4,726,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FLEX. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex in the 3rd quarter valued at about $39,000. Quarry LP purchased a new stake in shares of Flex in the 2nd quarter valued at about $43,000. American Capital Advisory LLC purchased a new stake in shares of Flex in the 2nd quarter valued at about $46,000. J.Safra Asset Management Corp raised its holdings in shares of Flex by 623.6% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after acquiring an additional 2,538 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Flex by 37.4% in the 2nd quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock valued at $123,000 after acquiring an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FLEX shares. StockNews.com cut Flex from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. KeyCorp assumed coverage on Flex in a report on Tuesday. They set an “overweight” rating and a $41.00 price objective on the stock. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $39.00 in a report on Thursday, July 25th. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flex presently has a consensus rating of “Buy” and an average target price of $39.17.

Insider Buying and Selling

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

Flex Price Performance

FLEX opened at $34.99 on Friday. The stock’s 50 day simple moving average is $32.41 and its 200 day simple moving average is $30.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $35.84. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.00 and a beta of 1.09.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. As a group, analysts predict that Flex Ltd. will post 2.06 earnings per share 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.