Hennion & Walsh Asset Management Inc. Has $6.74 Million Position in Flex Ltd. $FLEX

Hennion & Walsh Asset Management Inc. grew its position in shares of Flex Ltd. (NASDAQ:FLEX) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,554 shares of the technology company’s stock after purchasing an additional 5,250 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Flex were worth $6,735,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLEX. Vanguard Group Inc. grew its holdings in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. State Street Corp lifted its holdings in shares of Flex by 17.8% during the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the period. Geode Capital Management LLC grew 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 last quarter. Norges Bank bought a new position in Flex during the 4th quarter worth $319,756,000. Finally, Polar Capital Holdings Plc lifted its holdings in Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after buying an additional 2,165,780 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 33,000 shares of Flex stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the transaction, the executive vice president owned 73,471 shares of the company’s stock, valued at $11,307,921.61. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 197,879 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total value of $28,557,897.28. Following the completion of the sale, the chief executive officer directly owned 623,466 shares of the company’s stock, valued at $89,978,613.12. The trade was a 24.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 565,683 shares of company stock worth $81,205,305 in the last quarter. 0.62% of the stock is owned by insiders.

Flex Stock Performance

Shares of Flex stock opened at $121.35 on Monday. The stock has a market capitalization of $44.83 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 0.61 and a beta of 1.68. Flex Ltd. has a 52 week low of $47.83 and a 52 week high of $166.86. The stock has a 50 day moving average price of $137.37 and a two-hundred day moving average price of $102.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38.

Flex (NASDAQ:FLEX) last issued its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. As a group, equities analysts anticipate that Flex Ltd. will post 4.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FLEX shares. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Barclays lowered their target price on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. KeyCorp upped 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. Robert W. Baird set a $142.00 price target on Flex in a report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. One 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’s stock. Based on data from MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and an average price target of $114.20.

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.