Retireful LLC acquired a new position in Flex Ltd. (NASDAQ:FLEX – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,502 shares of the technology company’s stock, valued at approximately $2,188,000. Flex makes up 2.1% of Retireful LLC’s holdings, making the stock its 16th biggest holding.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JSF Financial LLC increased its position in shares of Flex by 0.6% during the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 115 shares during the last quarter. Glenview Trust Co boosted its holdings in Flex by 3.4% in the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after purchasing an additional 125 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in Flex by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after purchasing an additional 163 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Flex by 7.9% during the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock worth $159,000 after purchasing an additional 178 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.
Flex Price Performance
Shares of NASDAQ FLEX opened at $105.95 on Thursday. Flex Ltd. has a twelve month low of $53.07 and a twelve month high of $166.86. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $39.14 billion, a price-to-earnings ratio of 40.91, a price-to-earnings-growth ratio of 0.54 and a beta of 1.67. The business has a 50 day simple moving average of $124.65 and a 200-day simple moving average of $108.49.
Wall Street Analyst Weigh In
Several research firms have recently commented on FLEX. Raymond James Financial set a $170.00 target price on Flex and gave the company an “outperform” rating in a research note on Wednesday, July 29th. KeyCorp upped their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Barclays decreased their price objective on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, Robert W. Baird set a $142.00 target price on shares of Flex in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.20.
View Our Latest Stock Report on FLEX
Insider Activity at Flex
In other news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the transaction, the insider directly owned 243,175 shares in the company, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 39,188 shares of Flex stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.18, for a total transaction of $5,689,313.84. Following the completion of the transaction, the chief executive officer directly owned 584,278 shares of the company’s stock, valued at $84,825,480.04. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 459,938 shares of company stock valued at $67,020,113 in the last ninety days. 0.62% of the stock is owned by insiders.
About Flex
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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