HighTower Advisors LLC Purchases 28,425 Shares of Flex Ltd. (NASDAQ:FLEX)

HighTower Advisors LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,462 shares of the technology company's stock after buying an additional 28,425 shares during the period. HighTower Advisors LLC's holdings in Flex were worth $5,738,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FLEX. R Squared Ltd acquired a new stake in shares of Flex during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Flex during the 4th quarter worth approximately $38,000. Huntington National Bank grew its holdings in shares of 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 purchasing an additional 479 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 305 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in shares of Flex during the 4th quarter worth approximately $64,000. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLEX has been the topic of several recent research reports. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective on the stock. Finally, Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $44.33.

Remove Ads

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the business's 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 completion of the transaction, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Flex Price Performance

FLEX stock traded up $0.34 during trading on Friday, hitting $36.40. The company had a trading volume of 8,769,539 shares, compared to its average volume of 3,778,101. The company has a fifty day moving average price of $39.68 and a two-hundred day moving average price of $37.37. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.94 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.43 and a beta of 1.07. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating 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%. Equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

About Flex

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.