OneAscent Financial Services LLC Purchases New Position in Flex Ltd. $FLEX

OneAscent Financial Services LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the third quarter, Holdings Channel reports. The firm purchased 7,844 shares of the technology company’s stock, valued at approximately $455,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FLEX. Hilltop National Bank purchased a new position in Flex during the second quarter valued at $351,000. Dynasty Wealth Management LLC raised its position in shares of Flex by 80.1% during the 3rd quarter. Dynasty Wealth Management LLC now owns 43,602 shares of the technology company’s stock worth $2,528,000 after purchasing an additional 19,388 shares during the last quarter. Sowell Financial Services LLC lifted its stake in Flex by 220.6% in the 3rd quarter. Sowell Financial Services LLC now owns 24,891 shares of the technology company’s stock valued at $1,443,000 after buying an additional 17,128 shares in the last quarter. Ethic Inc. boosted its holdings in Flex by 140.2% in the 3rd quarter. Ethic Inc. now owns 46,553 shares of the technology company’s stock worth $2,699,000 after buying an additional 27,169 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Flex by 192.7% during the 3rd quarter. SG Americas Securities LLC now owns 597,899 shares of the technology company’s stock worth $34,660,000 after buying an additional 393,620 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FLEX shares. Argus set a $85.00 target price on Flex in a research report on Friday, October 31st. The Goldman Sachs Group raised their price objective on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Bank of America lifted their target price on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Raymond James Financial upgraded shares of Flex from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of Flex in a research report on Wednesday, November 12th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.11.

Insider Transactions at Flex

In other news, CAO Daniel Wendler sold 10,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $71.97, for a total transaction of $719,700.00. Following the completion of the transaction, the chief accounting officer directly owned 27,619 shares in the company, valued at approximately $1,987,739.43. This represents a 26.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Krumm sold 21,406 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the sale, the chief financial officer directly owned 143,803 shares of the company’s stock, valued at $8,805,057.69. The trade was a 12.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,406 shares of company stock valued at $6,129,539 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Flex Price Performance

Shares of FLEX stock opened at $65.10 on Wednesday. The firm’s 50-day moving average is $62.69 and its two-hundred day moving average is $58.63. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. The company has a market capitalization of $24.07 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24.

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.