Securian Asset Management Inc. acquired a new position in Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,315 shares of the technology company's stock, valued at approximately $1,125,000.
Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in Flex by 23.6% during the 3rd 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. Sage Rhino Capital LLC lifted its holdings in Flex by 1.1% during the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after buying an additional 374 shares in the last quarter. Arizona State Retirement System lifted its holdings in Flex by 0.4% during the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock worth $4,424,000 after buying an additional 403 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Flex by 2.0% during the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company's stock worth $693,000 after buying an additional 413 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Flex by 87.9% during the 3rd 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. 94.30% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Flex
In other Flex news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction on 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 in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on FLEX shares. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Barclays increased their target price on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $44.33.
View Our Latest Analysis on FLEX
Flex Stock Up 3.3 %
Shares of NASDAQ:FLEX traded up $1.16 during trading hours on Wednesday, reaching $35.95. The stock had a trading volume of 2,146,175 shares, compared to its average volume of 3,783,451. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The firm's 50 day moving average is $39.96 and its 200-day moving average is $37.31. 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 market capitalization of $13.77 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.43 and a beta of 1.07.
Flex (NASDAQ:FLEX - Get Free Report) last posted its 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 net margin of 3.95% and a return on equity of 17.93%. Research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.
About Flex
(
Free Report)
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.
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