GHP Investment Advisors Inc. Decreases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

GHP Investment Advisors Inc. decreased its holdings in Flex Ltd. (NASDAQ:FLEX) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,756 shares of the technology company’s stock after selling 885 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Flex were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FLEX. Cornerstone Planning Group LLC purchased a new position in Flex in the 3rd quarter worth about $30,000. Quarry LP purchased a new stake in shares of Flex during the 1st quarter valued at about $38,000. Fifth Third Bancorp increased its position in shares of Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after purchasing an additional 1,455 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Flex during the 3rd quarter valued at about $65,000. Finally, Farther Finance Advisors LLC increased its position in shares of Flex by 76.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,337 shares of the technology company’s stock valued at $65,000 after purchasing an additional 1,016 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity

In other news, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the completion of the transaction, the insider now directly owns 154,810 shares in the company, valued at approximately $4,723,253.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Daniel Wendler sold 1,860 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the sale, the chief accounting officer now owns 28,730 shares in the company, valued at approximately $830,009.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total value of $1,323,554.31. Following the sale, the insider now owns 154,810 shares in the company, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,943 shares of company stock worth $4,055,311. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FLEX shares. StockNews.com started coverage on shares of Flex in a research report on Wednesday, March 6th. They set a “hold” rating for the company. JPMorgan Chase & Co. upped their price target 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 increased their target price on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Flex Trading Down 2.5 %

FLEX stock opened at $28.38 on Friday. Flex Ltd. has a 1-year low of $19.44 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.80 and a beta of 1.19. The business has a 50 day simple moving average of $28.13 and a two-hundred day simple moving average of $26.67.

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

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.