Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Samalin Investment Counsel LLC

Samalin Investment Counsel LLC boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 20.8% during the 4th quarter, HoldingsChannel reports. The fund owned 22,055 shares of the technology company’s stock after buying an additional 3,801 shares during the period. Samalin Investment Counsel LLC’s holdings in Flex were worth $847,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of Flex by 1.3% during the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after purchasing an additional 344,773 shares during the period. Boston Partners raised its holdings in shares of Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after purchasing an additional 569,916 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Flex by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after purchasing an additional 31,214 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Flex Stock Up 0.9 %

Flex stock opened at $36.40 on Friday. The company has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $37.37. The firm has a market capitalization of $13.94 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, equities analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Flex Company Profile

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.