Advisors Asset Management Inc. Buys 13,226 Shares of Flex Ltd. (NASDAQ:FLEX)

Advisors Asset Management Inc. lifted its stake in Flex Ltd. (NASDAQ:FLEX) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,480 shares of the technology company’s stock after buying an additional 13,226 shares during the quarter. Advisors Asset Management Inc.’s holdings in Flex were worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Flex in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Flex during the fourth quarter worth about $38,000. First Horizon Advisors Inc. grew its position in shares of Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Flex by 82.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after purchasing an additional 704 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of Flex during the fourth quarter worth about $64,000. Institutional investors own 94.30% of the company’s stock.

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $36.40 on Friday. The stock has a market capitalization of $13.94 billion, a PE ratio of 14.68, a P/E/G ratio of 2.43 and a beta of 1.07. The business has a 50 day simple moving average of $39.68 and a two-hundred day simple moving average of $37.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, research analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Flex

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.