Whalen Wealth Management Inc. Makes New $256,000 Investment in Flex Ltd. (NASDAQ:FLEX)

Whalen Wealth Management Inc. acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,670 shares of the technology company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Stephens Inc. AR boosted its position in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after purchasing an additional 361 shares during the last quarter. Raymond James Trust N.A. raised its position in Flex by 2.0% during the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after acquiring an additional 413 shares in the last quarter. Huntington National Bank boosted its holdings in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Flex by 6.4% during the 4th quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock valued at $400,000 after acquiring an additional 630 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $44.46 on Thursday. Flex Ltd. has a twelve month low of $22.57 and a twelve month high of $45.10. The company has a market cap of $17.24 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.80 and a beta of 1.10. The business’s 50 day moving average price is $39.52 and its two-hundred day moving average price is $34.88. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64.

Insider Activity at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 19.10 % 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.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Craig Hallum raised their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Barclays lifted their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $42.67.

Flex Company 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.