Principal Securities Inc. Has $249,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Principal Securities Inc. grew its position in Flex Ltd. (NASDAQ:FLEX) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,498 shares of the technology company’s stock after purchasing an additional 860 shares during the quarter. Principal Securities Inc.’s holdings in Flex were worth $249,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLEX. Harbor Capital Advisors Inc. acquired a new stake in Flex during the third quarter worth approximately $29,000. Huntington National Bank grew its position in 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 Flex during the fourth quarter worth approximately $35,000. First Horizon Advisors Inc. grew its position in 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 Flex during the fourth quarter worth approximately $64,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Flex news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Flex Stock Down 3.2 %

Shares of FLEX opened at $40.35 on Monday. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a fifty day moving average of $41.01 and a 200-day moving average of $36.78.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal 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.