Steward Partners Investment Advisory LLC Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

Steward Partners Investment Advisory LLC lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 149.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,307 shares of the technology company’s stock after acquiring an additional 2,582 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Flex were worth $165,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. First Horizon Advisors Inc. raised its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Sage Rhino Capital LLC raised its stake in shares of Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock worth $1,358,000 after purchasing an additional 374 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Flex by 2.0% in the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after purchasing an additional 413 shares during the last quarter. Huntington National Bank raised its stake in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of Flex by 6.4% in the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after purchasing an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX opened at $34.49 on Friday. The stock has a 50-day simple moving average of $40.19 and a two-hundred day simple moving average of $37.24. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a market capitalization of $13.21 billion, a PE ratio of 13.91, a P/E/G ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Insider Transactions at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FLEX shares. Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flex currently has an average rating of “Buy” and a consensus target price of $44.33.

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.