Flex Ltd. (NASDAQ:FLEX) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its position in Flex Ltd. (NASDAQ:FLEX) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,254 shares of the technology company’s stock after selling 797 shares during the quarter. Signaturefd LLC’s holdings in Flex were worth $273,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new stake in shares of Flex in the fourth quarter valued at approximately $34,000. American Capital Advisory LLC purchased a new position in Flex during the 2nd quarter worth $46,000. CWM LLC increased its stake in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after purchasing an additional 773 shares during the period. J.Safra Asset Management Corp raised its holdings in shares of Flex by 623.6% in the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after buying an additional 2,538 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Flex by 37.4% during the second quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock worth $123,000 after buying an additional 1,170 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FLEX. Barclays boosted their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Flex has an average rating of “Buy” and a consensus target price of $38.40.

Flex Stock Performance

NASDAQ:FLEX opened at $32.49 on Monday. The firm’s fifty day simple moving average is $30.53 and its 200-day simple moving average is $29.85. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $12.90 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.12.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a net margin of 3.54% and a return on equity of 16.23%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. Analysts expect that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Daniel Wendler sold 1,670 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total value of $54,325.10. Following the completion of the transaction, the chief accounting officer now owns 27,060 shares in the company, valued at $880,261.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Daniel Wendler sold 1,670 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total value of $54,325.10. Following the sale, the chief accounting officer now directly owns 27,060 shares of the company’s stock, valued at approximately $880,261.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Scott Offer sold 11,354 shares of Flex stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $369,345.62. Following the transaction, the executive vice president now owns 134,338 shares of the company’s stock, valued at approximately $4,370,015.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 500,190 shares of company stock valued at $16,131,106. 0.82% of the stock is owned by insiders.

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.