Atomi Financial Group Inc. Increases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Atomi Financial Group Inc. lifted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 10.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,984 shares of the technology company’s stock after acquiring an additional 739 shares during the period. Atomi Financial Group Inc.’s holdings in Flex were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Trust N.A. lifted its stake in Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after acquiring an additional 360 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after buying an additional 471 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Flex by 8.6% in the first quarter. Resonant Capital Advisors LLC now owns 8,627 shares of the technology company’s stock worth $247,000 after buying an additional 683 shares during the last quarter. CWM LLC grew its holdings in Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares during the period. Finally, Blair William & Co. IL boosted its position in Flex by 7.7% in the 1st quarter. Blair William & Co. IL now owns 12,378 shares of the technology company’s stock worth $354,000 after purchasing an additional 884 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

NASDAQ FLEX opened at $31.95 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.79. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a market cap of $12.74 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12. The stock’s 50 day simple moving average is $30.46 and its 200-day simple moving average is $29.76.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $5.89 billion. Flex had a net margin of 3.54% and a return on equity of 16.23%. As a group, equities research analysts anticipate that Flex Ltd. will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 12,626 shares of Flex stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total value of $410,723.78. Following the completion of the transaction, the insider now owns 151,030 shares in the company, valued at $4,913,005.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, insider Kwang Hooi Tan sold 12,626 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total value of $410,723.78. Following the sale, the insider now owns 151,030 shares of the company’s stock, valued at approximately $4,913,005.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Lundstrom sold 200,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $6,492,000.00. Following the transaction, the chief financial officer now directly owns 294,027 shares of the company’s stock, valued at $9,544,116.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,190 shares of company stock valued at $16,131,106. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Barclays raised their price objective on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $38.40.

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.