Jones Financial Companies Lllp Increases Stake in Flex Ltd. (NASDAQ:FLEX)

Jones Financial Companies Lllp raised its position in Flex Ltd. (NASDAQ:FLEX) by 133.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,322 shares of the technology company’s stock after purchasing an additional 1,327 shares during the period. Jones Financial Companies Lllp’s holdings in Flex were worth $89,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new position in Flex in the 4th quarter valued at $7,864,000. State of Alaska Department of Revenue acquired a new stake in shares of Flex in the 4th quarter worth $1,697,000. One Wealth Advisors LLC acquired a new stake in shares of Flex in the 4th quarter worth $368,000. JPMorgan Chase & Co. increased its stake in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after acquiring an additional 296,505 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Flex in the 4th quarter worth $585,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Up 2.6 %

Shares of NASDAQ:FLEX opened at $34.49 on Monday. The business has a 50-day moving average price of $40.19 and a 200 day moving average price of $37.27. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Flex

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

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.