Algert Global LLC Acquires 31,876 Shares of Flex Ltd. (NASDAQ:FLEX)

Algert Global LLC lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 14.6% during the second quarter, HoldingsChannel.com reports. The firm owned 250,455 shares of the technology company’s stock after purchasing an additional 31,876 shares during the period. Algert Global LLC’s holdings in Flex were worth $7,386,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Raymond James Trust N.A. lifted its position in shares of Flex by 1.8% in the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock worth $599,000 after purchasing an additional 360 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Flex by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after purchasing an additional 471 shares in the last quarter. Resonant Capital Advisors LLC lifted its position 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 purchasing an additional 683 shares in the last quarter. Atomi Financial Group Inc. raised its position in Flex by 10.2% during the second quarter. Atomi Financial Group Inc. now owns 7,984 shares of the technology company’s stock worth $235,000 after acquiring an additional 739 shares in the last quarter. Finally, Allegheny Financial Group LTD raised its position in Flex by 4.8% during the second quarter. Allegheny Financial Group LTD now owns 18,415 shares of the technology company’s stock worth $543,000 after acquiring an additional 851 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the sale, the insider now owns 175,468 shares in the company, valued at approximately $5,576,373.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on 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 owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock worth $904,530 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Flex Price Performance

Shares of FLEX opened at $33.56 on Friday. The firm has a market capitalization of $13.38 billion, a PE ratio of 14.59, a PEG ratio of 1.92 and a beta of 1.09. The company’s 50-day moving average is $30.95 and its 200-day moving average is $30.16. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data 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. 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 analyst estimates of $5.89 billion. Equities analysts forecast 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.