5,600 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. bought a new stake in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,600 shares of the technology company’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Yousif Capital Management LLC lifted its stake in Flex by 1,081.3% in the fourth quarter. Yousif Capital Management LLC now owns 137,676 shares of the technology company’s stock valued at $5,285,000 after acquiring an additional 126,021 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in Flex in the fourth quarter valued at approximately $18,101,000. Calamos Advisors LLC lifted its stake in Flex by 712.3% in the fourth quarter. Calamos Advisors LLC now owns 161,000 shares of the technology company’s stock valued at $6,181,000 after acquiring an additional 141,179 shares during the last quarter. One Wealth Advisors LLC acquired a new stake in Flex in the fourth quarter valued at approximately $368,000. Finally, DAVENPORT & Co LLC acquired a new stake in Flex in the fourth quarter valued at approximately $220,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLEX has been the subject of a number of analyst reports. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday. They issued a “buy” rating and a $52.00 price target on the stock. Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Barclays boosted their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Flex currently has an average rating of “Buy” and a consensus price target of $44.33.

Flex Trading Up 0.3 %

Shares of Flex stock opened at $42.51 on Friday. The firm has a market capitalization of $16.29 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The company’s fifty day moving average price is $40.64 and its two-hundred day moving average price is $36.26. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity

In related news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

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.