Raymond James Financial Services Advisors Inc. Reduces Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Raymond James Financial Services Advisors Inc. decreased its position in Flex Ltd. (NASDAQ:FLEX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,483 shares of the technology company’s stock after selling 1,384 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Flex were worth $654,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC bought a new stake in Flex during the 3rd quarter valued at $30,000. Quarry LP bought a new stake in Flex during the 1st quarter valued at $38,000. Bruce G. Allen Investments LLC bought a new stake in Flex during the 4th quarter valued at $75,000. Ronald Blue Trust Inc. raised its holdings in Flex by 63.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,835 shares of the technology company’s stock valued at $79,000 after acquiring an additional 1,100 shares during the period. Finally, Optimum Investment Advisors bought a new stake in Flex during the 4th quarter valued at $79,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 0.4 %

Flex stock opened at $28.08 on Thursday. The stock has a market cap of $11.83 billion, a P/E ratio of 16.71, a PEG ratio of 1.74 and a beta of 1.19. Flex Ltd. has a fifty-two week low of $19.44 and a fifty-two week high of $30.93. The firm’s fifty day moving average price is $28.35 and its 200-day moving average price is $26.71. 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 (NASDAQ:FLEX) last released its earnings results on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. Equities research analysts forecast that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total value of $1,323,554.31. Following the transaction, the insider now owns 154,810 shares of the company’s stock, valued at $4,723,253.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Flex news, CAO Daniel Wendler sold 1,860 shares of the company’s stock in a transaction dated 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 directly 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 accessible through this link. Also, insider Michael P. Hartung sold 43,381 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the sale, the insider now owns 154,810 shares of the company’s stock, valued at $4,723,253.10. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock valued at $4,055,311 over the last 90 days. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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 report on Thursday, April 11th. StockNews.com began coverage on shares of Flex in a report on Wednesday, March 6th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price target 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

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.