Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in Flex Ltd. (NASDAQ:FLEXFree Report) by 26.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 244,578 shares of the technology company’s stock after purchasing an additional 51,553 shares during the period. Janney Montgomery Scott LLC owned approximately 0.06% of Flex worth $6,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FLEX. Richardson Financial Services Inc. purchased a new position in Flex in the fourth quarter worth approximately $34,000. CWM LLC lifted its stake in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares during the last quarter. Fifth Third Bancorp lifted its stake 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 acquiring an additional 1,455 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Flex in the fourth quarter worth approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Flex in the fourth quarter worth approximately $77,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Down 1.1 %

Shares of NASDAQ:FLEX opened at $29.30 on Wednesday. The company has a market capitalization of $11.68 billion, a PE ratio of 12.74, a P/E/G ratio of 1.97 and a beta of 1.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $34.12. The firm has a 50 day simple moving average of $30.65 and a 200-day simple moving average of $28.37.

Flex (NASDAQ:FLEXGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Flex had a net margin of 3.58% and a return on equity of 16.46%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.10 billion. On average, equities analysts predict that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $27.00 in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Barclays boosted their price objective on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

Read Our Latest Stock Report on FLEX

Insider Activity at Flex

In related news, CEO Revathi Advaithi sold 161,052 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the completion of the sale, the chief executive officer now owns 1,903,404 shares in the company, valued at approximately $54,532,524.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Flex news, CEO Revathi Advaithi sold 161,052 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the transaction, the chief executive officer now directly owns 1,903,404 shares of the company’s stock, valued at approximately $54,532,524.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kwang Hooi Tan sold 14,599 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the completion of the transaction, the insider now directly owns 163,656 shares in the company, valued at $4,688,744.40. The disclosure for this sale can be found here. Insiders sold a total of 804,542 shares of company stock worth $25,147,972 in the last 90 days. 0.82% of the stock is owned by insiders.

About Flex

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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