Commonwealth Equity Services LLC Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

Commonwealth Equity Services LLC grew its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,313 shares of the technology company’s stock after buying an additional 4,230 shares during the period. Commonwealth Equity Services LLC’s holdings in Flex were worth $1,432,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FLEX. R Squared Ltd purchased a new stake in Flex during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Flex during the 4th quarter worth about $38,000. EverSource Wealth Advisors LLC grew its holdings in shares of Flex by 82.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after buying an additional 704 shares in the last quarter. UMB Bank n.a. acquired a new position in shares of Flex in the fourth quarter valued at approximately $64,000. Finally, Fifth Third Bancorp boosted its position in Flex by 305.6% during the fourth quarter. Fifth Third Bancorp now owns 2,231 shares of the technology company’s stock worth $86,000 after acquiring an additional 1,681 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Price Performance

FLEX stock opened at $33.18 on Friday. The company has a market cap of $12.71 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $39.09 and a two-hundred day moving average price of $37.58. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, research analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of recent analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Barclays lifted their price target on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Flex currently has an average rating of “Buy” and a consensus price target of $44.33.

Insider Activity

In other news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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.