Raymond James & Associates Has $22.76 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Raymond James & Associates boosted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 680,888 shares of the technology company’s stock after buying an additional 5,681 shares during the period. Raymond James & Associates owned approximately 0.17% of Flex worth $22,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Flex by 441.6% during the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock worth $1,400,000 after purchasing an additional 38,711 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Flex by 254.9% during the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock worth $1,499,000 after buying an additional 36,465 shares during the last quarter. Twin Tree Management LP boosted its stake in Flex by 29,912.0% in the first quarter. Twin Tree Management LP now owns 97,239 shares of the technology company’s stock valued at $2,782,000 after buying an additional 96,915 shares in the last quarter. Valliance Asset Management Ltd bought a new position in Flex in the second quarter valued at about $2,654,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Flex in the first quarter worth about $783,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

FLEX stock opened at $34.99 on Friday. The firm has a market cap of $13.95 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $32.41 and a 200-day moving average price of $30.91. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $35.84.

Flex (NASDAQ:FLEX) last issued 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. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. As a group, equities research analysts expect that Flex Ltd. will post 2.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLEX has been the topic of several research reports. Stifel Nicolaus lifted 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. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Barclays upped their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $39.17.

Insider Activity

In other news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the transaction, the insider now owns 175,468 shares in the company, valued at approximately $5,576,373.04. This 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 hyperlink. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock worth $904,530 in the last quarter. 0.82% of the stock is 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.