International Assets Investment Management LLC Invests $5.45 Million in Flex Ltd. (NASDAQ:FLEX)

International Assets Investment Management LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 165,977 shares of the technology company’s stock, valued at approximately $5,449,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Flex during the fourth quarter worth approximately $77,000. Veracity Capital LLC lifted its position in Flex by 7.8% in the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock worth $251,000 after purchasing an additional 599 shares during the period. Deltec Asset Management LLC lifted its position in Flex by 55.2% in the fourth quarter. Deltec Asset Management LLC now owns 292,500 shares of the technology company’s stock worth $8,910,000 after purchasing an additional 104,000 shares during the period. Fifth Third Bancorp lifted its position in Flex by 276.6% in the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,455 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Flex by 8.4% in the fourth quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock worth $266,000 after purchasing an additional 679 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on Flex in a research report on Wednesday, March 6th. They issued a “hold” rating for the company. The Goldman Sachs Group upped their price target on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 1,860 shares of Flex 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 sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Flex news, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total value of $231,257.87. Following the sale, the insider now directly owns 159,718 shares in the company, valued at approximately $4,601,475.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction 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 in the company, valued at $830,009.70. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock worth $4,055,311 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $28.08 on Tuesday. Flex Ltd. has a 1-year low of $19.44 and a 1-year high of $30.93. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $28.20 and a 200-day moving average of $26.69. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.76 and a beta of 1.20.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. On average, equities analysts forecast that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Flex 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.