Impact Partnership Wealth LLC grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 56.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,318 shares of the technology company’s stock after purchasing an additional 6,276 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Flex were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Forsta AP Fonden bought a new position in shares of Flex during the 4th quarter valued at $7,637,000. Norges Bank bought a new position in shares of Flex during the 4th quarter valued at $319,756,000. Fideuram Asset Management Ireland dac bought a new position in shares of Flex during the 4th quarter valued at $979,000. National Pension Service acquired a new position in Flex in the 4th quarter valued at $37,548,000. Finally, Rothschild Investment LLC grew its stake in Flex by 5.6% in the 4th quarter. Rothschild Investment LLC now owns 4,911 shares of the technology company’s stock valued at $297,000 after buying an additional 262 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.
Flex Stock Performance
NASDAQ:FLEX opened at $150.65 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $55.19 billion, a PE ratio of 64.66, a PEG ratio of 0.76 and a beta of 1.46. The firm’s fifty day simple moving average is $98.58 and its 200 day simple moving average is $75.42. Flex Ltd. has a 1 year low of $41.43 and a 1 year high of $154.25.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on FLEX. The Goldman Sachs Group raised their target price on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Barclays raised their target price on shares of Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and an average price target of $112.80.
Get Our Latest Research Report on Flex
Insider Buying and Selling
In other Flex news, Director Erin Mcsweeney sold 2,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.51, for a total value of $265,020.00. Following the sale, the director directly owned 9,512 shares in the company, valued at $1,260,435.12. This trade represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 22,212 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.40, for a total transaction of $3,162,988.80. Following the completion of the sale, the executive vice president owned 74,926 shares in the company, valued at $10,669,462.40. This represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 329,512 shares of company stock worth $44,459,298. 0.57% of the stock is currently owned by corporate insiders.
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.
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