University of Texas Texas AM Investment Management Co. Invests $1.66 Million in Flex Ltd. $FLEX

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 27,504 shares of the technology company’s stock, valued at approximately $1,662,000.

A number of other institutional investors also recently modified their holdings of the stock. Parkside Financial Bank & Trust grew its holdings in Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the period. Parallel Advisors LLC grew its stake in shares of Flex by 5.3% in the 3rd quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock valued at $208,000 after buying an additional 181 shares during the period. Parcion Private Wealth LLC increased its position in Flex by 1.5% in the 4th quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock valued at $855,000 after buying an additional 216 shares in the last quarter. US Bancorp DE boosted its holdings in Flex by 1.2% in the third quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 225 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Flex by 3.3% in the second quarter. Benjamin Edwards Inc. now owns 8,063 shares of the technology company’s stock valued at $403,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. The Goldman Sachs Group boosted their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. KeyCorp raised their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Insider Buying and Selling at Flex

In other Flex news, Director Erin Mcsweeney sold 2,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.51, for a total transaction of $265,020.00. Following the completion of the transaction, the director owned 9,512 shares in the company, valued at $1,260,435.12. This trade represents a 17.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Scott Offer sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the sale, the executive vice president owned 73,471 shares in the company, valued at $11,307,921.61. The trade was a 30.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 345,012 shares of company stock valued at $48,508,103. Insiders own 0.57% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $149.22 on Tuesday. The company has a market capitalization of $54.67 billion, a PE ratio of 64.04, a price-to-earnings-growth ratio of 0.79 and a beta of 1.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. Flex Ltd. has a 52-week low of $43.15 and a 52-week high of $166.86. The company has a 50-day simple moving average of $117.49 and a 200 day simple moving average of $82.73.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion during the quarter. On average, research analysts predict 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.