Brighton Jones LLC acquired a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 6,768 shares of the technology company's stock, valued at approximately $260,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock worth $898,389,000 after purchasing an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock valued at $237,216,000 after acquiring an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock valued at $202,152,000 after acquiring an additional 296,505 shares during the period. Geode Capital Management LLC raised its holdings in Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Finally, State Street Corp lifted its position in Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock worth $122,503,000 after purchasing an additional 603,208 shares during the period. Institutional investors own 94.30% of the company's stock.
Insiders Place Their Bets
In other news, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now directly owns 55,713 shares of the company's stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.82% of the company's stock.
Flex Trading Down 1.0 %
Shares of Flex stock traded down $0.43 during trading on Friday, hitting $41.65. The stock had a trading volume of 3,969,660 shares, compared to its average volume of 3,640,772. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $16.15 billion, a PE ratio of 16.79, a P/E/G ratio of 2.61 and a beta of 1.10. Flex Ltd. has a 1 year low of $23.64 and a 1 year high of $45.10. The stock has a 50 day simple moving average of $39.95 and a 200 day simple moving average of $35.35.
Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.83%. On average, research analysts expect that Flex Ltd. will post 2.16 EPS for the current fiscal year.
Analysts Set New Price Targets
FLEX has been the topic of several research analyst reports. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. KeyCorp assumed coverage on Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price on the stock. Craig Hallum upped their price target on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research note on Thursday, October 17th. Finally, Stifel Nicolaus increased their target price on shares of Flex from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $43.67.
Get Our Latest Research Report on FLEX
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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