Squarepoint Ops LLC Has $3.84 Million Position in Flex Ltd. (NASDAQ:FLEX)

Squarepoint Ops LLC lessened its stake in Flex Ltd. (NASDAQ:FLEX) by 24.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,146 shares of the technology company’s stock after selling 42,468 shares during the quarter. Squarepoint Ops LLC’s holdings in Flex were worth $3,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in shares of Flex in the fourth quarter worth $34,000. American Capital Advisory LLC purchased a new stake in shares of Flex during the 2nd quarter worth about $46,000. J.Safra Asset Management Corp raised its stake in shares of Flex by 623.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after purchasing an additional 2,538 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Flex by 37.4% during the 2nd 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. Finally, Rothschild Investment LLC bought a new stake in shares of Flex in the 2nd quarter valued at approximately $125,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FLEX shares. Barclays raised their price objective on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $39.00 in a report on Thursday, July 25th. Stifel Nicolaus increased their price objective on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $38.40.

Insider Buying and Selling

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, July 29th. The shares were 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 directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,028 shares of company stock valued at $904,530. 0.82% of the stock is owned by company insiders.

Flex Trading Down 2.1 %

Flex stock opened at $32.72 on Wednesday. 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 business’s 50-day simple moving average is $31.03 and its 200-day simple moving average is $30.21. The firm has a market capitalization of $13.05 billion, a PE ratio of 14.23, a PEG ratio of 1.92 and a beta of 1.09. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $34.42.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.89 billion. Equities research analysts forecast that Flex Ltd. will post 2.06 earnings per share for the current year.

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.