Hantz Financial Services Inc. lifted its position in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 89.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,284 shares of the technology company’s stock after purchasing an additional 5,331 shares during the quarter. Hantz Financial Services Inc.’s holdings in Flex were worth $682,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Flex in the fourth quarter worth approximately $260,000. Goldman Sachs Group Inc. raised its stake in shares of Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after purchasing an additional 211,046 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Flex in the first quarter worth approximately $397,000. EverSource Wealth Advisors LLC raised its stake in shares of Flex by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,031 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 29,821 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
FLEX has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, KeyCorp increased their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.80.
Insiders Place Their Bets
In other Flex news, Director Erin Mcsweeney sold 2,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the completion of the sale, the director directly owned 9,512 shares of the company’s stock, valued at $1,260,435.12. This trade represents a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Revathi Advaithi sold 83,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the sale, the chief executive officer directly owned 605,522 shares of the company’s stock, valued at $80,455,708.14. This represents a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 329,512 shares of company stock valued at $44,459,298. Company insiders own 0.57% of the company’s stock.
Flex Stock Down 0.6%
Shares of NASDAQ:FLEX opened at $144.85 on Friday. The company has a market capitalization of $53.07 billion, a PE ratio of 62.17, a price-to-earnings-growth ratio of 0.77 and a beta of 1.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The business has a fifty day moving average price of $96.84 and a two-hundred day moving average price of $74.89. Flex Ltd. has a 1 year low of $41.43 and a 1 year high of $147.76.
Flex (NASDAQ:FLEX – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The firm had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. Analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current year.
Flex Profile
Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.
Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.
See Also
- Five stocks we like better than Flex
- 3 Stocks Rallying on Micron’s Price Boost: Substance or Hype?
- Snowflake and the Snowballing Impact of its AI Flywheel
- AI’s Biggest Bottleneck Could Make These 2 Stocks Soar
- These 3 Beaten-Down Stocks Just Saw $25 Million in Insider Buying
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.
