Flex Ltd. $FLEX Holdings Lifted by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC grew its position in shares of Flex Ltd. (NASDAQ:FLEX) by 84.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,016 shares of the technology company’s stock after purchasing an additional 23,875 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Flex were worth $5,721,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Flex by 14.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the technology company’s stock valued at $86,000 after buying an additional 99 shares during the period. TD Waterhouse Canada Inc. grew its stake in Flex by 7.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,449 shares of the technology company’s stock worth $223,000 after acquiring an additional 100 shares during the period. JSF Financial LLC raised its holdings in Flex by 0.6% in the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 115 shares during the last quarter. Glenview Trust Co lifted its stake in shares of Flex by 3.4% during the 1st quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after purchasing an additional 125 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Flex by 2.1% during the first quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity

In other news, insider Michael P. Hartung sold 2,755 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider owned 243,175 shares of the company’s stock, valued at $29,336,632. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Raymond James Financial set a $170.00 price target on Flex and gave the company an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, 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 report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.67.

Flex Trading Up 2.8%

Shares of Flex stock traded up $3.27 during trading hours on Friday, reaching $118.00. The stock had a trading volume of 612,795 shares, compared to its average volume of 4,691,737. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 45.56, a P/E/G ratio of 0.60 and a beta of 1.67. Flex Ltd. has a 1 year low of $53.07 and a 1 year high of $166.86. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $114.48 and a two-hundred day simple moving average of $117.40.

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

Flex Profile

Flex Ltd. (NASDAQ:FLEX) is a global manufacturing and supply-chain solutions provider that helps companies design, build and deliver products. The company works with original equipment manufacturers and other brands across the product life cycle, from product design and engineering through manufacturing, logistics and aftermarket services.

Its capabilities include electronics manufacturing, printed circuit board assembly, systems integration, mechanical manufacturing, testing, product development and supply-chain management.