Flex Ltd. (NASDAQ:FLEX) Shares Bought by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 59.6% during the second quarter, Holdings Channel reports. The firm owned 15,678 shares of the technology company’s stock after buying an additional 5,852 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Flex were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in Flex in the fourth quarter worth $34,000. American Capital Advisory LLC bought a new stake in Flex in the 2nd quarter valued at about $46,000. J.Safra Asset Management Corp boosted its stake 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 valued at $87,000 after purchasing an additional 2,538 shares during the period. Rothschild Investment LLC bought a new position in Flex in the 2nd quarter worth about $125,000. Finally, Blue Trust Inc. boosted its position in shares of Flex by 37.4% during the second quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock worth $123,000 after buying an additional 1,170 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Trading Down 0.6 %

Shares of FLEX stock opened at $32.74 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $30.75 and a 200 day simple moving average of $30.07. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The stock has a market capitalization of $13.06 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.74 and a beta of 1.09.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a net margin of 3.54% and a return on equity of 16.23%. The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $5.89 billion. On average, sell-side analysts expect that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,028 shares of company stock valued at $904,530. Corporate insiders own 0.82% of the company’s stock.

About Flex

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.