First Eagle Investment Management LLC Buys 3,000 Shares of Flex Ltd. (NASDAQ:FLEX)

First Eagle Investment Management LLC boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 24.6% in the second quarter, Holdings Channel reports. The firm owned 15,204 shares of the technology company’s stock after acquiring an additional 3,000 shares during the period. First Eagle Investment Management LLC’s holdings in Flex were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in shares of Flex during the fourth quarter worth approximately $34,000. American Capital Advisory LLC acquired a new position in shares of Flex during the second quarter worth approximately $46,000. J.Safra Asset Management Corp lifted its holdings in shares of Flex by 623.6% during the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after buying an additional 2,538 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Flex by 37.4% during the second quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock worth $123,000 after buying an additional 1,170 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Flex during the second quarter worth approximately $125,000. Institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FLEX. Craig Hallum upgraded 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 report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus upped their target price on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays upped their target price on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $38.40.

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction 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. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock worth $904,530 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Flex Stock Performance

Flex stock opened at $32.93 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. The stock has a fifty day moving average price of $30.70 and a two-hundred day moving average price of $30.06. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $34.12. The firm has a market capitalization of $13.13 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.74 and a beta of 1.09.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (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 firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. As a group, analysts anticipate that Flex Ltd. will post 2.09 EPS for the current fiscal 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.