Flex Ltd. (NASDAQ:FLEX) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank increased its stake in Flex Ltd. (NASDAQ:FLEX) by 20.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,899 shares of the technology company’s stock after buying an additional 7,018 shares during the quarter. First Hawaiian Bank’s holdings in Flex were worth $1,170,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Flex in the fourth quarter valued at about $34,000. CWM LLC grew its stake in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after purchasing an additional 773 shares in the last quarter. Fifth Third Bancorp grew its stake in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Flex during the 4th quarter valued at approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Flex during the 4th quarter valued at approximately $77,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total transaction of $235,110.83. Following the sale, the insider now owns 151,691 shares of the company’s stock, valued at approximately $4,443,029.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Flex news, CAO Daniel Wendler sold 1,670 shares of Flex stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the sale, the chief accounting officer now owns 27,060 shares of the company’s stock, valued at approximately $880,261.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $29.29, for a total value of $235,110.83. Following the sale, the insider now directly owns 151,691 shares in the company, valued at approximately $4,443,029.39. The disclosure for this sale can be found here. Insiders have sold 804,542 shares of company stock valued at $25,147,972 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Flex Trading Up 0.1 %

Shares of NASDAQ FLEX opened at $31.62 on Thursday. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.13. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $30.19 and its 200 day simple moving average is $28.12.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. Flex had a return on equity of 16.46% and a net margin of 3.58%. Equities research analysts expect that Flex Ltd. will post 2.06 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FLEX shares. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. Barclays lifted their target price on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their target price on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.83.

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.