Flex Ltd. $FLEX Shares Acquired by JNBA Financial Advisors

JNBA Financial Advisors grew its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 21,752.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,430 shares of the technology company’s stock after purchasing an additional 7,396 shares during the quarter. JNBA Financial Advisors’ holdings in Flex were worth $1,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its position in Flex by 17.8% during the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Flex by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after buying an additional 181,266 shares during the last quarter. Norges Bank acquired a new stake in shares of Flex during the fourth quarter worth $319,756,000. Polar Capital Holdings Plc lifted its stake in shares of Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after buying an additional 2,165,780 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Flex by 3.3% during the fourth quarter. Northern Trust Corp now owns 3,197,827 shares of the technology company’s stock valued at $193,213,000 after buying an additional 101,218 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Down 1.1%

NASDAQ:FLEX opened at $109.25 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. The company’s fifty day moving average price is $126.44 and its 200-day moving average price is $107.89. Flex Ltd. has a 1-year low of $51.76 and a 1-year high of $166.86. The firm has a market capitalization of $40.36 billion, a P/E ratio of 42.18, a PEG ratio of 0.56 and a beta of 1.68.

Flex (NASDAQ:FLEX) last posted its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. As a group, equities research analysts anticipate that Flex Ltd. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FLEX shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Barclays dropped their price target on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group cut their price objective on Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.20.

Insider Buying and Selling

In related news, COO Kwang Hooi Tan sold 26,657 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the completion of the transaction, the chief operating officer directly owned 257,527 shares in the company, valued at approximately $37,207,500.96. This trade represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 22,627 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the transaction, the insider directly owned 253,199 shares of the company’s stock, valued at $36,582,191.52. The trade was a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 459,938 shares of company stock worth $67,020,113. Corporate insiders own 0.62% of the company’s stock.

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.