Flex Ltd. (NASDAQ:FLEX) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lessened its position in shares of Flex Ltd. (NASDAQ:FLEX) by 15.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,043 shares of the technology company’s stock after selling 3,960 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Flex were worth $808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLEX. R Squared Ltd purchased a new stake in shares of Flex during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in Flex during the fourth quarter worth approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after purchasing an additional 509 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Flex by 82.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after buying an additional 704 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Flex during the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was 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 $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Up 0.8 %

FLEX stock opened at $33.36 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $38.68 and a two-hundred day moving average of $37.68. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. Barclays upped their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flex 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.