Raymond James Financial Inc. Invests $32.29 Million in Flex Ltd. (NASDAQ:FLEX)

Raymond James Financial Inc. acquired a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 841,172 shares of the technology company's stock, valued at approximately $32,293,000. Raymond James Financial Inc. owned about 0.22% of Flex at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sage Rhino Capital LLC boosted its stake in Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock valued at $1,358,000 after buying an additional 374 shares in the last quarter. Arizona State Retirement System lifted its stake in Flex by 0.4% in the 4th 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 last quarter. Quadrant Capital Group LLC increased its holdings in shares of 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 buying an additional 447 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Flex by 46.7% during the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after acquiring an additional 478 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after purchasing an additional 509 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 2.0 %

Shares of NASDAQ:FLEX traded up $0.60 during mid-day trading on Tuesday, hitting $31.13. The company had a trading volume of 242,694 shares, compared to its average volume of 3,954,185. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market capitalization of $11.93 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The firm has a fifty day moving average price of $34.75 and a 200 day moving average price of $37.39. Flex Ltd. has a one year low of $25.11 and a one year high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued its 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%. As a group, research analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Lay Koon Tan sold 50,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company's stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 transaction, the insider now owns 233,526 shares of the company's stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Barclays boosted their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. The Goldman Sachs Group reduced their price target on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, KeyCorp dropped their price target on shares of Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex has a consensus rating of "Buy" and a consensus price target of $43.67.

Flex Company 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.