Sequoia Financial Advisors LLC Purchases 12,858 Shares of Flex Ltd. $FLEX

Sequoia Financial Advisors LLC grew its position in Flex Ltd. (NASDAQ:FLEX) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 154,007 shares of the technology company’s stock after buying an additional 12,858 shares during the period. Sequoia Financial Advisors LLC’s holdings in Flex were worth $8,928,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new position in Flex in the second quarter valued at about $26,000. Concord Wealth Partners acquired a new stake in shares of Flex during the second quarter worth about $28,000. CNB Bank bought a new position in shares of Flex during the 2nd quarter valued at about $30,000. Harbour Investments Inc. grew its position in shares of Flex by 74.7% in the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after purchasing an additional 301 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Flex by 404.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after purchasing an additional 566 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Down 2.6%

Flex stock opened at $64.83 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22. The company has a fifty day simple moving average of $62.11 and a 200 day simple moving average of $57.99. The company has a market cap of $23.97 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24.

Insiders Place Their Bets

In related news, Director William D. Watkins sold 20,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the sale, the director owned 98,073 shares in the company, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the transaction, the chief accounting officer owned 27,619 shares of the company’s stock, valued at approximately $1,987,739.43. This represents a 26.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 128,906 shares of company stock valued at $7,904,439 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FLEX has been the topic of a number of research reports. Argus set a $85.00 price target on shares of Flex in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. JPMorgan Chase & Co. increased their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, KeyCorp lifted their price target on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.11.

Flex Company Profile

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.