MONECO Advisors LLC Invests $227,000 in Flex Ltd. (NASDAQ:FLEX)

MONECO Advisors LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,906 shares of the technology company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in Flex during the third quarter worth about $29,000. R Squared Ltd acquired a new position in Flex during the fourth quarter worth about $35,000. Huntington National Bank boosted its position in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after acquiring an additional 479 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. Finally, UMB Bank n.a. acquired a new position in Flex during the fourth quarter worth about $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Lay Koon Tan sold 50,000 shares of the company’s 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 sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following 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 disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FLEX shares. Craig Hallum boosted their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Barclays boosted 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $44.33.

Flex Stock Performance

NASDAQ:FLEX opened at $38.58 on Wednesday. The company’s 50-day moving average is $41.05 and its two-hundred day moving average is $36.92. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 2.43 and a beta of 1.10. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX) last released its quarterly 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%. Analysts forecast that Flex Ltd. will post 2.33 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.