Waterway Wealth Management LLC Buys New Shares in Flex Ltd. $FLEX

Waterway Wealth Management LLC bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 19,267 shares of the technology company’s stock, valued at approximately $1,164,000.

A number of other institutional investors also recently modified their holdings of FLEX. Vanguard Group Inc. lifted its position in shares of Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares during the period. Norges Bank acquired a new position in shares of Flex during the 4th quarter valued at $319,756,000. State Street Corp lifted its position in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after acquiring an additional 3,377,669 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Flex by 694,916.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after acquiring an additional 2,640,682 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Flex by 118.1% during the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock worth $162,968,000 after buying an additional 1,522,308 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FLEX shares. Robert W. Baird set a $165.00 price objective on shares of Flex in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Stifel Nicolaus upped their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Flex Stock Performance

NASDAQ FLEX opened at $146.93 on Wednesday. The company has a fifty day moving average price of $119.05 and a 200-day moving average price of $83.35. The firm has a market cap of $53.83 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 0.79 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a 1 year low of $43.62 and a 1 year high of $166.86.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The company had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. As a group, equities research analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Revathi Advaithi sold 83,500 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the sale, the chief executive officer owned 605,522 shares in the company, valued at $80,455,708.14. This represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 17,500 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the completion of the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at approximately $32,425,149.99. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 345,012 shares of company stock valued at $48,508,103 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

About Flex

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.