Ashton Thomas Private Wealth LLC Raises Stake in Flex Ltd. (NASDAQ:FLEX)

Ashton Thomas Private Wealth LLC boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 132.4% in the fourth quarter, HoldingsChannel reports. The fund owned 39,031 shares of the technology company’s stock after acquiring an additional 22,238 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Flex were worth $1,498,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after acquiring an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after purchasing an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Geode Capital Management LLC increased its stake in Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Finally, State Street Corp increased its stake in Flex by 19.7% during the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of FLEX stock opened at $34.70 on Friday. The company has a 50 day moving average price of $40.69 and a 200-day moving average price of $37.18. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The firm has a market capitalization of $13.29 billion, a PE ratio of 13.99, a P/E/G ratio of 2.43 and a beta of 1.07. 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 (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Barclays raised their price objective on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $44.33.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company 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.