Cwm LLC Raises Stake in Flex Ltd. $FLEX

Cwm LLC increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 258.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,595 shares of the technology company’s stock after purchasing an additional 3,314 shares during the period. Cwm LLC’s holdings in Flex were worth $229,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Flex during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new stake in Flex during the 1st quarter worth about $26,000. Olde Wealth Management LLC purchased a new stake in Flex during the 1st quarter worth about $26,000. Pinnacle Bancorp Inc. lifted its holdings in Flex by 39.4% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock worth $43,000 after purchasing an additional 244 shares in the last quarter. Finally, Webster Bank N. A. lifted its holdings in Flex by 134.4% during the 2nd quarter. Webster Bank N. A. now owns 968 shares of the technology company’s stock worth $48,000 after purchasing an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLEX. KeyCorp raised their price target on Flex from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a report on Wednesday, October 8th. Bank of America raised their price target on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. KGI Securities cut Flex from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group set a $66.00 price target on Flex in a report on Monday, September 29th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.71.

Insider Buying and Selling

In related news, CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total transaction of $566,600.00. Following the transaction, the chief accounting officer directly owned 37,619 shares in the company, valued at $2,131,492.54. This trade represents a 21.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erin Mcsweeney sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total value of $514,700.00. Following the transaction, the director owned 17,012 shares in the company, valued at approximately $875,607.64. The trade was a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,520 shares of company stock valued at $4,295,542 in the last 90 days. 0.57% of the stock is owned by insiders.

Flex Price Performance

FLEX opened at $64.66 on Tuesday. The stock’s 50 day simple moving average is $57.36 and its 200 day simple moving average is $48.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $65.88. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 2.09 and a beta of 1.15.

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.