Sequoia Financial Advisors LLC Boosts Holdings in Flex Ltd. (NASDAQ:FLEX)

Sequoia Financial Advisors LLC increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,728 shares of the technology company’s stock after buying an additional 2,573 shares during the period. Sequoia Financial Advisors LLC’s holdings in Flex were worth $3,167,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FLEX. SG Americas Securities LLC increased its position in shares of Flex by 441.6% during the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock worth $1,400,000 after acquiring an additional 38,711 shares during the period. Hsbc Holdings PLC raised its position in Flex by 254.9% in the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after purchasing an additional 36,465 shares in the last quarter. Twin Tree Management LP boosted its stake in shares of Flex by 29,912.0% in the 1st quarter. Twin Tree Management LP now owns 97,239 shares of the technology company’s stock valued at $2,782,000 after buying an additional 96,915 shares during the period. Valliance Asset Management Ltd acquired a new position in shares of Flex during the second quarter worth about $2,654,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Flex in the first quarter valued at approximately $783,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the sale, the insider now owns 175,468 shares in the company, valued at $5,576,373.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the sale, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock valued at $904,530 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. KeyCorp assumed coverage on Flex in a report on Tuesday. They issued an “overweight” rating and a $41.00 price objective on the stock. Finally, The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flex presently has an average rating of “Buy” and an average price target of $39.17.

Flex Stock Down 0.4 %

Flex stock opened at $34.11 on Thursday. The company has a market capitalization of $13.60 billion, a P/E ratio of 14.83, a PEG ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $35.84. The stock has a 50-day simple moving average of $32.35 and a 200-day simple moving average of $30.88.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. Equities research analysts expect that Flex Ltd. will post 2.06 earnings per share for the current year.

Flex 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.