Flex (NASDAQ:FLEX) Sets New 52-Week High at $25.10

Flex Ltd. (NASDAQ:FLEXGet Rating) reached a new 52-week high during trading on Tuesday . The company traded as high as $25.10 and last traded at $24.78, with a volume of 65685 shares trading hands. The stock had previously closed at $24.03.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th.

Flex Stock Down 1.2 %

The stock has a market capitalization of $10.69 billion, a P/E ratio of 13.57, a PEG ratio of 1.06 and a beta of 1.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.29 and a quick ratio of 0.65. The stock’s fifty day moving average is $21.63 and its two-hundred day moving average is $18.86.

Flex (NASDAQ:FLEXGet Rating) last issued its earnings results on Wednesday, October 26th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.20 billion. Flex had a net margin of 2.85% and a return on equity of 20.33%. As a group, research analysts predict that Flex Ltd. will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 44,898 shares of Flex stock in a transaction on Monday, October 31st. The shares were sold at an average price of $19.66, for a total transaction of $882,694.68. Following the completion of the sale, the insider now owns 143,105 shares of the company’s stock, valued at approximately $2,813,444.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael P. Hartung sold 1,896 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $21.00, for a total transaction of $39,816.00. Following the transaction, the insider now owns 125,209 shares in the company, valued at approximately $2,629,389. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 44,898 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $19.66, for a total transaction of $882,694.68. Following the transaction, the insider now owns 143,105 shares in the company, valued at approximately $2,813,444.30. The disclosure for this sale can be found here. Insiders sold 84,730 shares of company stock valued at $1,734,074 in the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Flex

Several hedge funds and other institutional investors have recently modified their holdings of FLEX. Creative Planning raised its position in shares of Flex by 0.4% during the third quarter. Creative Planning now owns 152,706 shares of the technology company’s stock valued at $2,544,000 after buying an additional 536 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Flex by 1.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 53,388 shares of the technology company’s stock valued at $1,146,000 after purchasing an additional 556 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Flex by 3.9% in the third quarter. Commonwealth Equity Services LLC now owns 14,753 shares of the technology company’s stock valued at $245,000 after purchasing an additional 556 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Flex by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 10,020 shares of the technology company’s stock worth $167,000 after purchasing an additional 620 shares during the period. Finally, MML Investors Services LLC boosted its stake in Flex by 1.4% during the third quarter. MML Investors Services LLC now owns 44,823 shares of the technology company’s stock worth $747,000 after buying an additional 630 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Flex

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Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

Further Reading

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