Whittier Trust Co. Buys 1,453 Shares of Flex Ltd. (NASDAQ:FLEX)

Whittier Trust Co. increased its stake in Flex Ltd. (NASDAQ:FLEX) by 79.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,284 shares of the technology company’s stock after purchasing an additional 1,453 shares during the period. Whittier Trust Co.’s holdings in Flex were worth $110,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Boston Partners grew 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 valued at $548,519,000 after acquiring an additional 10,201,162 shares during the last quarter. Merewether Investment Management LP bought a new position in Flex during the second quarter valued at approximately $72,808,000. Westfield Capital Management Co. LP bought a new position in Flex during the first quarter valued at approximately $51,543,000. Point72 Asset Management L.P. grew 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 valued at $21,495,000 after acquiring an additional 792,700 shares during the last quarter. Finally, TCW Group Inc. grew its position in Flex by 48.1% during the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock valued at $50,479,000 after acquiring an additional 556,286 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Performance

Shares of FLEX stock opened at $34.99 on Friday. The stock has a fifty day moving average of $32.41 and a 200 day moving average of $30.91. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $35.84. The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.00 and a beta of 1.09. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS 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 analyst estimates of $5.89 billion. As a group, research analysts expect that Flex Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLEX. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. KeyCorp initiated coverage on Flex in a research note on Tuesday. They set an “overweight” rating and a $41.00 price objective for the company. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and increased their price objective for the company from $27.00 to $39.00 in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $39.17.

Insider Buying and Selling

In related news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at $5,576,373.04. 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. 0.82% of the stock is owned by company insiders.

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.