Creative Planning Grows Position in Flex Ltd. (NASDAQ:FLEX)

Creative Planning raised its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,371 shares of the technology company’s stock after buying an additional 839 shares during the quarter. Creative Planning’s holdings in Flex were worth $4,726,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FLEX. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the third quarter valued at $39,000. Quarry LP purchased a new position in Flex during the second quarter valued at $43,000. American Capital Advisory LLC purchased a new position in Flex during the second quarter valued at $46,000. J.Safra Asset Management Corp raised its stake in Flex by 623.6% during the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after buying an additional 2,538 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Flex by 37.4% during the second quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock valued at $123,000 after buying an additional 1,170 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of FLEX opened at $34.99 on Friday. 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 Ltd. has a one year low of $21.84 and a one year high of $35.84. The firm has a market capitalization of $13.95 billion, a P/E ratio of 15.21, a PEG ratio of 2.00 and a beta of 1.09. The business has a fifty day moving average of $32.41 and a 200 day moving average of $30.91.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.06 EPS for the current year.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. StockNews.com cut Flex from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus boosted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $39.17.

Insider Buying and Selling at Flex

In other Flex news, 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 completion of the sale, the insider now owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s 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 of the company’s stock, valued at approximately $5,576,373.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,028 shares of company stock valued at $904,530. Company insiders own 0.82% of the company’s stock.

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.