Wealth Enhancement Advisory Services LLC Has $2.17 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 9.4% in the first quarter, Holdings Channel.com reports. The firm owned 75,882 shares of the technology company’s stock after buying an additional 6,528 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Flex were worth $2,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Veracity Capital LLC increased its position in Flex by 7.8% during the 4th quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock worth $251,000 after purchasing an additional 599 shares in the last quarter. Global Retirement Partners LLC increased its position in Flex by 8.4% in the 4th quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock valued at $266,000 after acquiring an additional 679 shares during the period. CWM LLC increased its position in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after acquiring an additional 773 shares during the period. Richardson Financial Services Inc. acquired a new position in Flex in the 4th quarter valued at approximately $34,000. Finally, Raymond James Trust N.A. increased its position in Flex by 7.2% in the 4th quarter. Raymond James Trust N.A. now owns 20,035 shares of the technology company’s stock valued at $610,000 after acquiring an additional 1,351 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 14,599 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the transaction, the insider now directly owns 163,656 shares of the company’s stock, valued at $4,688,744.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Kwang Hooi Tan sold 14,599 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the transaction, the insider now directly owns 163,656 shares of the company’s stock, valued at $4,688,744.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Lundstrom sold 35,733 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the transaction, the chief financial officer now directly owns 507,752 shares in the company, valued at $14,547,094.80. The disclosure for this sale can be found here. Insiders have sold a total of 804,542 shares of company stock valued at $25,147,972 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Barclays upped their price target on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Craig Hallum cut shares of Flex from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Flex Trading Up 2.1 %

FLEX opened at $30.10 on Friday. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $30.61 and a 200-day moving average of $28.40. The stock has a market cap of $12.00 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.12.

Flex (NASDAQ:FLEX) last issued its 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 analyst estimates of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. On average, sell-side analysts predict that Flex Ltd. will post 2.06 EPS for the current year.

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.