LPL Financial LLC Has $35.53 Million Position in Flex Ltd. (NASDAQ:FLEX)

LPL Financial LLC lifted its stake in Flex Ltd. (NASDAQ:FLEX) by 19.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,940 shares of the technology company’s stock after purchasing an additional 196,072 shares during the period. LPL Financial LLC owned 0.30% of Flex worth $35,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional 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 approximately $34,000. American Capital Advisory LLC acquired a new stake in Flex during the 2nd quarter worth $46,000. J.Safra Asset Management Corp grew its holdings in Flex by 623.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after acquiring an additional 2,538 shares during the period. Rothschild Investment LLC acquired a new stake in Flex during the 2nd quarter worth $125,000. Finally, Blue Trust Inc. grew its holdings in Flex by 37.4% during the 2nd quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock worth $123,000 after acquiring an additional 1,170 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 0.6 %

FLEX opened at $29.80 on Monday. The stock has a market capitalization of $11.88 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.74 and a beta of 1.09. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12. The firm’s fifty day simple moving average is $30.54 and its 200 day simple moving average is $29.99. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.34 by $0.09. The business 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, research analysts anticipate that Flex Ltd. will post 2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Flex

In other Flex news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Flex news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,028 shares of company stock valued at $904,530. 0.82% of the stock is owned by corporate insiders.

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.