Steward Partners Investment Advisory LLC Has $165,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Steward Partners Investment Advisory LLC lifted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 149.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,307 shares of the technology company’s stock after purchasing an additional 2,582 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Flex were worth $165,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FLEX. Huntington National Bank raised its position in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the last quarter. R Squared Ltd purchased a new stake in Flex in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new stake in Flex in the 4th quarter valued at $38,000. First Horizon Advisors Inc. raised its position in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in Flex in the 4th quarter valued at $64,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Performance

NASDAQ:FLEX opened at $34.49 on Friday. The business’s 50-day moving average price is $40.19 and its two-hundred day moving average price is $37.24. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The stock has a market cap of $13.21 billion, a P/E ratio of 13.91, a PEG ratio of 2.43 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

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

Insider Buying and Selling

In other news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. This trade represents a 19.77 % 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 Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FLEX has been the subject of a number of analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus assumed coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Barclays upped their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $44.33.

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.