Figure 8 Investment Strategies LLC Purchases Shares of 71,220 Flex Ltd. (NASDAQ:FLEX)

Figure 8 Investment Strategies LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 71,220 shares of the technology company’s stock, valued at approximately $2,734,000. Flex comprises about 2.7% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 11th largest position.

Several other hedge funds have also recently modified their holdings of FLEX. Creative Planning raised its stake in Flex by 0.6% in the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after acquiring an additional 839 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in Flex in the 3rd quarter worth approximately $208,000. Sax Wealth Advisors LLC lifted its stake in Flex by 17.5% during the 3rd quarter. Sax Wealth Advisors LLC now owns 16,613 shares of the technology company’s stock valued at $555,000 after acquiring an additional 2,472 shares during the period. Net Worth Advisory Group purchased a new stake in shares of Flex in the 3rd quarter valued at $323,000. Finally, Raymond James & Associates increased its stake in shares of Flex by 0.8% in the third quarter. Raymond James & Associates now owns 680,888 shares of the technology company’s stock worth $22,762,000 after acquiring an additional 5,681 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FLEX shares. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday. They set a “buy” rating and a $52.00 target price for the company. KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $44.33.

Flex Trading Down 1.4 %

Shares of NASDAQ:FLEX opened at $42.39 on Friday. The business’s 50 day moving average price is $40.50 and its 200-day moving average price is $36.14. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85.

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 the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Flex news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction 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 sale, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the 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 sale, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

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.