Kesler Norman & Wride LLC Invests $433,000 in Flex Ltd. (NASDAQ:FLEX)

Kesler Norman & Wride LLC purchased a new position in Flex Ltd. (NASDAQ:FLEX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,951 shares of the technology company’s stock, valued at approximately $433,000.

Several other hedge funds have also recently bought and sold shares of FLEX. Boston Partners increased its position in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after buying an additional 10,201,162 shares during the last quarter. Merewether Investment Management LP acquired a new position in Flex during the second quarter worth $72,808,000. Westfield Capital Management Co. LP acquired a new position in Flex during the first quarter worth $51,543,000. Point72 Asset Management L.P. increased its position in Flex by 1,242.5% during the second quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after buying an additional 792,700 shares during the last quarter. Finally, Troluce Capital Advisors LLC increased its position in Flex by 104.3% during the fourth quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock worth $34,268,000 after buying an additional 574,308 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Performance

NASDAQ:FLEX opened at $33.55 on Wednesday. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.42. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $13.38 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09. The firm has a 50-day moving average price of $31.25 and a 200 day moving average price of $30.44.

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 net margin of 3.54% and a return on equity of 16.23%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. Research analysts anticipate that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.