Flex Ltd. (NASDAQ:FLEX) Holdings Lifted by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC increased its holdings in Flex Ltd. (NASDAQ:FLEX) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,686 shares of the technology company’s stock after acquiring an additional 2,008 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Flex were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Boston Partners boosted its holdings in shares of Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after purchasing an additional 10,201,162 shares during the period. Dimensional Fund Advisors LP lifted its position in Flex by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after buying an additional 127,688 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Flex by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after buying an additional 141,580 shares during the period. Merewether Investment Management LP acquired a new position in shares of Flex in the second quarter worth $72,808,000. Finally, Brandes Investment Partners LP increased its stake in shares of Flex by 8.3% in the second quarter. Brandes Investment Partners LP now owns 2,055,170 shares of the technology company’s stock worth $60,592,000 after acquiring an additional 157,516 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Flex Stock Up 0.6 %

Flex stock opened at $35.21 on Friday. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.01 and a beta of 1.09. The firm has a fifty day moving average price of $32.49 and a two-hundred day moving average price of $30.97. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $35.84. 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 (NASDAQ:FLEX) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. As a group, analysts forecast that Flex Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Stifel Nicolaus lifted their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Finally, Barclays upped their price objective on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flex has a consensus rating of “Buy” and a consensus target price of $39.17.

About Flex

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.