Allworth Financial LP Has $165,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Allworth Financial LP grew its position in Flex Ltd. (NASDAQ:FLEX) by 68.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,412 shares of the technology company’s stock after buying an additional 2,203 shares during the quarter. Allworth Financial LP’s holdings in Flex were worth $165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLEX. FMR LLC raised its position in Flex by 0.6% during the third quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after purchasing an additional 247,024 shares in the last quarter. BlackRock Inc. increased its stake in shares of Flex by 5.9% in the 1st quarter. BlackRock Inc. now owns 16,377,282 shares of the technology company’s stock valued at $376,841,000 after purchasing an additional 916,299 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Flex by 119.3% during the 1st quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after buying an additional 5,741,044 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Flex by 0.9% during the 1st quarter. Bank of America Corp DE now owns 8,742,594 shares of the technology company’s stock worth $201,167,000 after buying an additional 73,829 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Flex by 0.5% in the second quarter. Macquarie Group Ltd. now owns 7,738,381 shares of the technology company’s stock valued at $111,975,000 after buying an additional 35,557 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com began coverage on shares of Flex in a report on Wednesday, March 6th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 1,860 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the transaction, the chief accounting officer now owns 28,730 shares in the company, valued at $830,009.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Rebecca Sidelinger sold 13,675 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total value of $382,763.25. Following the sale, the insider now owns 161,913 shares of the company’s stock, valued at $4,531,944.87. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock worth $4,055,311 over the last ninety days. 0.56% of the stock is owned by insiders.

Flex Trading Up 2.3 %

Shares of NASDAQ FLEX opened at $29.10 on Friday. The stock has a market cap of $12.26 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The firm has a 50 day moving average price of $28.06 and a two-hundred day moving average price of $26.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.93.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. As a group, equities analysts forecast that Flex Ltd. will post 2.16 EPS for the current 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.