Jackson Creek Investment Advisors LLC Buys New Position in Flex Ltd. $FLEX

Jackson Creek Investment Advisors LLC purchased a new position in Flex Ltd. (NASDAQ:FLEX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,779 shares of the technology company’s stock, valued at approximately $1,668,000.

Several other large investors also recently made changes to their positions in the business. Fulton Bank N.A. lifted its stake in Flex by 0.3% during the third quarter. Fulton Bank N.A. now owns 49,904 shares of the technology company’s stock valued at $2,893,000 after purchasing an additional 167 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Flex by 2.4% during the 3rd quarter. Diversified Trust Co now owns 7,697 shares of the technology company’s stock worth $446,000 after acquiring an additional 179 shares in the last quarter. Modera Wealth Management LLC grew its holdings in shares of Flex by 3.4% in the 3rd quarter. Modera Wealth Management LLC now owns 7,011 shares of the technology company’s stock worth $406,000 after acquiring an additional 231 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Flex by 7.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 3,594 shares of the technology company’s stock worth $208,000 after purchasing an additional 248 shares during the period. Finally, Archer Investment Corp lifted its holdings in shares of Flex by 8.9% during the second quarter. Archer Investment Corp now owns 3,050 shares of the technology company’s stock valued at $152,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other news, Director William D. Watkins sold 20,000 shares of Flex stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares in the company, valued at $5,346,939.96. The trade was a 16.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael P. Hartung sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total value of $933,150.00. Following the completion of the transaction, the insider owned 211,198 shares in the company, valued at $13,138,627.58. This represents a 6.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 86,406 shares of company stock worth $5,195,639. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. KeyCorp raised their price objective on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $23.00 price objective on shares of Flex in a research report on Wednesday, November 12th. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Finally, The Goldman Sachs Group lifted their price target on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.11.

Flex Stock Up 2.6%

FLEX stock opened at $64.68 on Tuesday. The company has a 50 day moving average of $63.38 and a two-hundred day moving average of $58.99. The company has a market cap of $23.92 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.67 and a beta of 1.24. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $72.22. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.