Blue Trust Inc. Has $202,000 Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Blue Trust Inc. raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,273 shares of the technology company’s stock after purchasing an additional 1,163 shares during the quarter. Blue Trust Inc.’s holdings in Flex were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FLEX. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex during the third quarter worth $29,000. Huntington National Bank lifted its holdings in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Flex during the fourth quarter worth $35,000. First Horizon Advisors Inc. lifted its holdings in shares of Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in shares of Flex during the fourth quarter worth $64,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Transactions at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Flex Stock Performance

Flex stock opened at $42.45 on Thursday. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $40.90 and its two-hundred day moving average price is $36.54. The stock has a market cap of $16.26 billion, a PE ratio of 17.12, a P/E/G ratio of 2.48 and a beta of 1.10.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays boosted their price target on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Craig Hallum boosted their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus began coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $44.33.

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.