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

Atomi Financial Group Inc. boosted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 22.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,783 shares of the technology company’s stock after buying an additional 1,799 shares during the period. Atomi Financial Group Inc.’s holdings in Flex were worth $327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Royal London Asset Management Ltd. lifted its holdings in Flex by 16.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 224,114 shares of the technology company’s stock worth $6,827,000 after buying an additional 31,840 shares during the period. Richardson Financial Services Inc. purchased a new stake in shares of Flex during the 4th quarter worth $34,000. Vanguard Group Inc. boosted its position in Flex by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 5,829,503 shares of the technology company’s stock valued at $177,567,000 after purchasing an additional 248,233 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in Flex in the fourth quarter valued at about $617,000. Finally, Nomura Holdings Inc. bought a new position in Flex in the fourth quarter worth about $1,218,000. 94.30% of the stock is owned by institutional investors.

Flex Stock Up 3.2 %

Shares of FLEX stock opened at $35.11 on Friday. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $35.20. The firm has a market capitalization of $13.94 billion, a PE ratio of 15.74, a P/E/G ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The stock’s 50-day simple moving average is $31.49 and its 200-day simple moving average is $30.55.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share 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 the consensus estimate of $5.89 billion. Equities analysts expect that Flex Ltd. will post 2.06 earnings per share for the current year.

Insider Buying and Selling

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the 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 of the company’s stock, valued at approximately $5,576,373.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now owns 175,468 shares in the company, valued at approximately $5,576,373.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock valued at $904,530 over the last 90 days. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FLEX shares. JPMorgan Chase & Co. upped their price target on 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 Flex from a “hold” rating to a “buy” rating and upped their target price for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Stifel Nicolaus raised their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays upped their price objective on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Flex has an average rating of “Moderate Buy” and a consensus target price of $38.40.

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.