Marietta Investment Partners LLC Has $6.74 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Marietta Investment Partners LLC trimmed its position in Flex Ltd. (NASDAQ:FLEX) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,663 shares of the technology company’s stock after selling 33,902 shares during the period. Flex makes up approximately 1.5% of Marietta Investment Partners LLC’s holdings, making the stock its 21st biggest holding. Marietta Investment Partners LLC owned 0.06% of Flex worth $6,743,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James Trust N.A. raised its holdings in Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock worth $599,000 after buying an additional 360 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after acquiring an additional 471 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Flex by 8.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock worth $247,000 after acquiring an additional 683 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Flex by 10.2% during the 2nd quarter. Atomi Financial Group Inc. now owns 7,984 shares of the technology company’s stock worth $235,000 after acquiring an additional 739 shares in the last quarter. Finally, Allegheny Financial Group LTD grew its stake in shares of Flex by 4.8% during the 2nd quarter. Allegheny Financial Group LTD now owns 18,415 shares of the technology company’s stock worth $543,000 after acquiring an additional 851 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FLEX shares. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Flex currently has a consensus rating of “Buy” and an average price target of $38.40.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 10,000 shares of the business’s 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 owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP David Scott Offer sold 10,000 shares of the business’s 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 owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The disclosure for this sale can be found here. Over 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 corporate insiders.

Flex Stock Up 1.6 %

FLEX opened at $32.93 on Monday. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The company has a market capitalization of $13.13 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.74 and a beta of 1.09. The stock has a fifty day moving average of $30.70 and a 200-day moving average of $30.05.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, topping 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 company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. On average, equities analysts expect that Flex Ltd. will post 2.09 EPS for the current year.

Flex 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.