Vestmark Advisory Solutions Inc. Purchases Shares of 7,509 Flex Ltd. (NASDAQ:FLEX)

Vestmark Advisory Solutions Inc. purchased a new stake in Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, Holdings Channel.com reports. The firm purchased 7,509 shares of the technology company’s stock, valued at approximately $288,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in shares of Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. Sage Rhino Capital LLC grew its holdings in shares of Flex by 1.1% in the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock valued at $1,358,000 after acquiring an additional 374 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Flex by 0.4% in the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock valued at $4,424,000 after acquiring an additional 403 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Flex by 2.0% in the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after acquiring an additional 413 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 0.7 %

Flex stock opened at $34.70 on Monday. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a market capitalization of $13.29 billion, a P/E ratio of 13.99, a PEG ratio of 2.43 and a beta of 1.07. The stock has a 50-day simple moving average of $40.69 and a 200 day simple moving average of $37.22.

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

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred on 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 completion of the sale, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLEX. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target for the company. Finally, Barclays lifted their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.