Versor Investments LP Buys New Shares in Flex Ltd. (NASDAQ:FLEX)

Versor Investments LP purchased a new position in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 10,100 shares of the technology company’s stock, valued at approximately $388,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the period. Stephens Inc. AR boosted its stake in Flex by 2.6% in the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after purchasing an additional 361 shares during the period. Raymond James Trust N.A. grew its holdings in Flex by 2.0% during the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after buying an additional 413 shares in the last quarter. Huntington National Bank raised its position in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Flex by 6.4% in the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after buying an additional 630 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Stock Performance

Flex stock opened at $37.89 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The company’s 50-day moving average price is $41.08 and its 200-day moving average price is $37.05. The company has a market cap of $14.52 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FLEX shares. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Barclays boosted their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $44.33.

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.