WR Wealth Planners LLC lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,345 shares of the technology company's stock after selling 7,440 shares during the quarter. WR Wealth Planners LLC's holdings in Flex were worth $935,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Flex during the third quarter worth approximately $29,000. Huntington National Bank increased its stake in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after purchasing an additional 479 shares during the period. R Squared Ltd acquired a new stake in Flex during the 4th quarter worth approximately $35,000. First Horizon Advisors Inc. boosted its stake in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares during the period. Finally, UMB Bank n.a. acquired a new position in Flex in the 4th quarter valued at $64,000. 94.30% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred on 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 sale, the director now directly owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The sale 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 that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now directly 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 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 down $0.96 during mid-day trading on Monday, hitting $36.93. The stock had a trading volume of 1,645,125 shares, compared to its average volume of 3,495,967. The firm has a fifty day simple moving average of $41.08 and a 200 day simple moving average of $37.09. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. 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 firm has a market capitalization of $14.15 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.43 and a beta of 1.10.
Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.95% and a return on equity of 17.93%. As a group, research analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.
Wall Street Analyst Weigh In
FLEX has been the subject of a number of research reports. Barclays lifted their target price on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Stifel Nicolaus started coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. 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.com, the company has a consensus rating of "Buy" and a consensus price target of $44.33.
Check Out Our Latest Stock Analysis 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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