MGO One Seven LLC Invests $1.52 Million in Flex Ltd. (NASDAQ:FLEX)

MGO One Seven LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,512 shares of the technology company's stock, valued at approximately $1,517,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLEX. Evergreen Capital Management LLC lifted its position in Flex by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock worth $925,000 after buying an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Flex by 2.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock worth $488,000 after acquiring an additional 266 shares during the period. Sage Rhino Capital LLC boosted its position in shares of Flex by 1.1% during the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock valued at $1,358,000 after acquiring an additional 374 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock valued at $4,424,000 after purchasing an additional 403 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Flex by 11.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock worth $170,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Activity

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated 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 sale, the director now owns 202,850 shares of the company's stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated 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 owns 233,526 shares of the company's stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FLEX shares. JPMorgan Chase & Co. decreased their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. KeyCorp reduced their target price on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. Finally, Barclays boosted their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $43.67.

Flex Trading Up 1.6 %

Shares of FLEX stock traded up $0.56 on Friday, hitting $35.22. The stock had a trading volume of 4,126,233 shares, compared to its average volume of 3,985,596. The company's 50 day moving average price is $34.03 and its 200-day moving average price is $37.36. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $45.10. The firm has a market capitalization of $13.49 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Flex Profile

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.