Oppenheimer & Co. Inc. bought a new position in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,573 shares of the technology company’s stock, valued at approximately $289,000.
A number of other large investors have also modified their holdings of FLEX. JPMorgan Chase & Co. grew its holdings in shares of Flex by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 363,665 shares of the technology company’s stock worth $6,745,000 after buying an additional 33,349 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Flex by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 590,073 shares of the technology company’s stock valued at $10,946,000 after purchasing an additional 44,642 shares during the period. American Century Companies Inc. grew its holdings in shares of Flex by 14.1% in the first quarter. American Century Companies Inc. now owns 130,278 shares of the technology company’s stock valued at $2,417,000 after purchasing an additional 16,073 shares during the period. HighTower Advisors LLC grew its holdings in shares of Flex by 1.0% in the first quarter. HighTower Advisors LLC now owns 86,350 shares of the technology company’s stock valued at $1,600,000 after purchasing an additional 853 shares during the period. Finally, Natixis Advisors L.P. purchased a new stake in shares of Flex in the first quarter valued at about $201,000. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on FLEX shares. Bank of America upped their price objective on shares of Flex from $28.00 to $31.00 in a report on Sunday, July 9th. StockNews.com began coverage on shares of Flex in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Flex in a research report on Monday, July 24th.
Insider Transactions at Flex
In related news, CAO Daniel Wendler sold 1,241 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $26.07, for a total value of $32,352.87. Following the sale, the chief accounting officer now owns 17,025 shares of the company’s stock, valued at $443,841.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP David Scott Offer sold 8,651 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $26.07, for a total value of $225,531.57. Following the sale, the executive vice president now owns 129,166 shares of the company’s stock, valued at $3,367,357.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Wendler sold 1,241 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $26.07, for a total transaction of $32,352.87. Following the completion of the transaction, the chief accounting officer now owns 17,025 shares in the company, valued at $443,841.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 775,934 shares of company stock valued at $20,686,303. 0.56% of the stock is currently owned by corporate insiders.
Flex Trading Down 0.3 %
NASDAQ FLEX opened at $27.32 on Thursday. The firm’s 50-day moving average is $27.17 and its two-hundred day moving average is $24.47. Flex Ltd. has a 12 month low of $16.11 and a 12 month high of $28.90. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.46 and a quick ratio of 0.75. The stock has a market capitalization of $12.12 billion, a P/E ratio of 15.88, a PEG ratio of 1.14 and a beta of 1.44.
Flex (NASDAQ:FLEX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Flex had a net margin of 2.60% and a return on equity of 17.98%. On average, sell-side analysts anticipate that Flex Ltd. will post 2.09 earnings per share for the current year.
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.
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