Jones Financial Companies Lllp Boosts Position in Flex Ltd. (NASDAQ:FLEX)

Jones Financial Companies Lllp increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 133.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,322 shares of the technology company’s stock after acquiring an additional 1,327 shares during the quarter. Jones Financial Companies Lllp’s holdings in Flex were worth $89,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its stake in Flex by 23.6% during 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. Raymond James Trust N.A. lifted its stake in Flex by 2.0% during 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 lifted its stake in Flex by 87.9% during 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. Atomi Financial Group Inc. lifted its stake in Flex by 6.4% during 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. Finally, Wahed Invest LLC lifted its stake in Flex by 7.4% during the third quarter. Wahed Invest LLC now owns 9,637 shares of the technology company’s stock worth $322,000 after purchasing an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FLEX. Barclays boosted their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $44.33.

Flex Trading Up 2.6 %

NASDAQ:FLEX opened at $34.49 on Monday. The firm has a market cap of $13.21 billion, a P/E ratio of 13.91, a PEG ratio of 2.43 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $40.19 and its 200-day simple moving average is $37.27. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Flex Ltd. will post 2.33 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.