Impact Partnership Wealth LLC Buys Shares of 11,042 Flex Ltd. $FLEX

Impact Partnership Wealth LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,042 shares of the technology company’s stock, valued at approximately $640,000.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC purchased a new stake in Flex in the fourth quarter worth $260,000. Goldman Sachs Group Inc. grew its stake in shares of Flex by 19.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after acquiring an additional 211,046 shares during the period. Empowered Funds LLC purchased a new stake in Flex in the 1st quarter worth about $397,000. GC Wealth Management RIA LLC bought a new stake in Flex in the 2nd quarter valued at about $231,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Flex by 2.2% during the second quarter. Janney Montgomery Scott LLC now owns 227,690 shares of the technology company’s stock valued at $11,366,000 after purchasing an additional 4,875 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In other Flex news, Director William D. Watkins sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $54.52, for a total value of $1,090,400.00. Following the sale, the director owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael P. Hartung sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total value of $933,150.00. Following the transaction, the insider directly owned 211,198 shares of the company’s stock, valued at $13,138,627.58. The trade was 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 101,406 shares of company stock worth $6,129,539. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLEX. Barclays reduced their target price on shares of Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Argus set a $85.00 price target on Flex in a report on Friday, October 31st. Finally, Raymond James Financial upgraded Flex from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.11.

Flex Stock Down 3.7%

FLEX opened at $63.04 on Friday. The firm has a market capitalization of $23.31 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22. The company has a fifty day moving average price of $63.22 and a 200-day moving average price of $58.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83.

Flex Company 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.