D.A. Davidson & CO. Has $604,000 Holdings in Flex Ltd. (NASDAQ:FLEX)

D.A. Davidson & CO. raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 14.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,729 shares of the technology company’s stock after buying an additional 1,980 shares during the quarter. D.A. Davidson & CO.’s holdings in Flex were worth $604,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FLEX. Harbor Capital Advisors Inc. acquired a new position in shares of Flex during the third quarter worth approximately $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 during the last quarter. R Squared Ltd acquired a new position in shares of Flex in the fourth quarter valued at $35,000. First Horizon Advisors Inc. raised its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Flex in the fourth quarter valued at $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated 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 owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $38.58 on Wednesday. The business’s fifty day moving average price is $41.05 and its two-hundred day moving average price is $36.92. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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, analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.