23,250 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Seelaus Asset Management LLC

Seelaus Asset Management LLC acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,250 shares of the technology company’s stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. raised its holdings in shares of Flex by 7.2% in the fourth quarter. Alliancebernstein L.P. now owns 21,008,183 shares of the technology company’s stock valued at $385,080,000 after buying an additional 1,414,461 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Flex by 12.2% in the fourth quarter. Victory Capital Management Inc. now owns 19,581,382 shares of the technology company’s stock valued at $358,927,000 after buying an additional 2,124,940 shares during the last quarter. Sound Shore Management Inc CT raised its holdings in shares of Flex by 2.9% in the fourth quarter. Sound Shore Management Inc CT now owns 8,608,400 shares of the technology company’s stock valued at $157,792,000 after buying an additional 245,585 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Flex by 6.6% in the fourth quarter. Pzena Investment Management LLC now owns 8,231,915 shares of the technology company’s stock valued at $150,891,000 after buying an additional 508,087 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Flex by 322.7% in the fourth quarter. Millennium Management LLC now owns 5,603,500 shares of the technology company’s stock valued at $102,712,000 after buying an additional 4,277,817 shares during the last quarter. 95.95% of the stock is owned by institutional investors.

Shares of FLEX stock opened at $14.58 on Thursday. The stock has a 50-day moving average price of $16.50 and a 200 day moving average price of $16.90. The company has a quick ratio of 0.72, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 0.55 and a beta of 1.50. Flex Ltd. has a 12 month low of $14.05 and a 12 month high of $19.50.

Flex (NASDAQ:FLEX – Get Rating) last posted its earnings results on Wednesday, May 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.45 billion. Flex had a return on equity of 25.31% and a net margin of 3.60%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. Sell-side analysts predict that Flex Ltd. will post 1.83 earnings per share for the current fiscal year.

In related news, insider Kwang Hooi Tan sold 6,755 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $18.00, for a total value of $121,590.00. Following the completion of the transaction, the insider now directly owns 117,077 shares in the company, valued at approximately $2,107,386. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Scott Offer sold 12,984 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $17.48, for a total value of $226,960.32. Following the completion of the transaction, the executive vice president now owns 204,950 shares of the company’s stock, valued at $3,582,526. The disclosure for this sale can be found here. Insiders have sold a total of 630,582 shares of company stock valued at $9,535,923 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.

A number of research firms recently issued reports on FLEX. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Argus upgraded Flex from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, May 18th. Finally, The Goldman Sachs Group lowered their price objective on Flex from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st.

Flex Profile (Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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