Flex Ltd. $FLEX Shares Acquired by Sigma Planning Corp

Sigma Planning Corp lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 81.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,729 shares of the technology company’s stock after buying an additional 9,764 shares during the quarter. Sigma Planning Corp’s holdings in Flex were worth $1,422,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Flex during the fourth quarter worth $28,000. Parkside Financial Bank & Trust grew its holdings in Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in Flex during the 4th quarter worth $28,000. Gables Capital Management Inc. acquired a new position in Flex in the 4th quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Flex by 6,318.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after buying an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FLEX shares. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday. Barclays raised their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. KeyCorp upped their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Flex currently has an average rating of “Moderate Buy” and an average price target of $115.70.

Flex Trading Down 1.5%

Shares of NASDAQ FLEX opened at $119.25 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average price is $143.16 and its two-hundred day moving average price is $95.78. Flex Ltd. has a 52-week low of $47.83 and a 52-week high of $166.86. The stock has a market capitalization of $43.69 billion, a P/E ratio of 51.18, a PEG ratio of 0.64 and a beta of 1.64.

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

Insider Activity at Flex

In related news, CEO Revathi Advaithi sold 39,188 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.18, for a total transaction of $5,689,313.84. Following the sale, the chief executive officer owned 584,278 shares in the company, valued at $84,825,480.04. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.20, for a total transaction of $190,357.20. Following the completion of the transaction, the chief accounting officer directly owned 37,932 shares in the company, valued at $5,507,726.40. This represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 769,195 shares of company stock valued at $110,116,823 in the last ninety days. 0.62% of the stock is owned by insiders.

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.