BayBridge Capital Group LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,568 shares of the technology company's stock, valued at approximately $406,000.
Other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Flex during the third quarter valued at about $29,000. R Squared Ltd bought a new position in Flex during the fourth quarter valued at about $35,000. Huntington National Bank increased its stake in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after acquiring an additional 479 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in Flex during the third quarter valued at about $39,000. Finally, First Horizon Advisors Inc. increased its stake in Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.
Flex Price Performance
Shares of FLEX traded up $0.23 on Wednesday, hitting $43.01. The company's stock had a trading volume of 1,938,084 shares, compared to its average volume of 3,653,389. The company has a market capitalization of $16.48 billion, a PE ratio of 17.34, a PEG ratio of 2.58 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 0.85. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10. The company has a 50 day moving average price of $40.50 and a 200 day moving average price of $36.14.
Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price target on the stock. Craig Hallum upped their price objective 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 price objective on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Finally, Stifel Nicolaus started coverage on Flex in a research note on Tuesday. They issued a "buy" rating and a $52.00 price objective on the stock. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $44.33.
Get Our Latest Report on FLEX
Insiders Place Their Bets
In other news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on 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 of the company's stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction on 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 directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade 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.
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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