Peak Retirement Planning Inc. Acquires 5,553 Shares of Flex Ltd. $FLEX

Peak Retirement Planning Inc. lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,962 shares of the technology company’s stock after purchasing an additional 5,553 shares during the period. Peak Retirement Planning Inc.’s holdings in Flex were worth $2,777,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. State Street Corp increased its stake in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the period. Geode Capital Management LLC increased its stake in shares of Flex by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares during the period. Norges Bank bought a new position in shares of Flex in the fourth quarter worth about $319,756,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Flex by 118.1% in the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock worth $162,968,000 after purchasing an additional 1,522,308 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FLEX shares. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. The Goldman Sachs Group boosted their price target on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. KeyCorp boosted their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial set a $80.00 price target on Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Barclays lifted their price objective on Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Flex currently has an average rating of “Moderate Buy” and a consensus target price of $112.80.

Insider Activity

In other news, insider Michael P. Hartung sold 22,216 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the transaction, the insider owned 232,706 shares of the company’s stock, valued at $33,132,680.28. This represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 22,212 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.40, for a total value of $3,162,988.80. Following the completion of the transaction, the executive vice president directly owned 74,926 shares in the company, valued at approximately $10,669,462.40. This trade represents a 22.87% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 329,512 shares of company stock worth $44,459,298. 0.57% of the stock is owned by company insiders.

Flex Stock Up 7.7%

NASDAQ:FLEX opened at $159.43 on Wednesday. The stock’s fifty day moving average price is $100.23 and its two-hundred day moving average price is $76.11. Flex Ltd. has a 52-week low of $42.31 and a 52-week high of $159.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The company has a market cap of $58.41 billion, a price-to-earnings ratio of 68.43, a P/E/G ratio of 0.78 and a beta of 1.64.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion for the quarter. On average, analysts anticipate that Flex Ltd. will post 4.15 EPS for the current year.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.