Flex Ltd. (NASDAQ:FLEX) Shares Bought by Allegheny Financial Group LTD

Allegheny Financial Group LTD boosted its position in Flex Ltd. (NASDAQ:FLEX) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,415 shares of the technology company’s stock after buying an additional 851 shares during the quarter. Allegheny Financial Group LTD’s holdings in Flex were worth $543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC increased its holdings in shares of Flex by 50.5% during the second quarter. Natixis Advisors LLC now owns 25,550 shares of the technology company’s stock valued at $753,000 after purchasing an additional 8,576 shares during the period. WR Wealth Planners LLC lifted its holdings in shares of Flex by 37.9% in the second quarter. WR Wealth Planners LLC now owns 30,620 shares of the technology company’s stock valued at $903,000 after purchasing an additional 8,420 shares in the last quarter. nVerses Capital LLC acquired a new stake in Flex during the 2nd quarter worth about $165,000. Commonwealth Equity Services LLC grew its position in Flex by 52.8% during the second quarter. Commonwealth Equity Services LLC now owns 29,802 shares of the technology company’s stock valued at $879,000 after purchasing an additional 10,299 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Flex during the 2nd quarter valued at $125,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Stifel Nicolaus upped their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and increased their price target for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays upped their target price on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $38.40.

Insider Buying and Selling at Flex

In other Flex news, CAO Daniel Wendler sold 1,275 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $39,907.50. Following the transaction, the chief accounting officer now owns 32,510 shares in the company, valued at approximately $1,017,563. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Flex news, CAO Daniel Wendler sold 1,275 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $39,907.50. Following the completion of the sale, the chief accounting officer now directly owns 32,510 shares of the company’s stock, valued at approximately $1,017,563. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kwang Hooi Tan sold 13,451 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $421,016.30. Following the transaction, the insider now directly owns 183,496 shares of the company’s stock, valued at $5,743,424.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 399,773 shares of company stock valued at $12,864,541. 0.82% of the stock is currently owned by company insiders.

Flex Stock Performance

NASDAQ:FLEX opened at $32.29 on Tuesday. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $34.12. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.88 and a beta of 1.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. The business’s fifty day moving average is $30.57 and its 200 day moving average is $29.87.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. Research analysts predict that Flex Ltd. will post 2.09 EPS 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.