OneAscent Investment Solutions LLC Invests $621,000 in Flex Ltd. $FLEX

OneAscent Investment Solutions LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,715 shares of the technology company’s stock, valued at approximately $621,000.

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

Insider Activity

In related news, Director William D. Watkins sold 20,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total transaction of $933,150.00. Following the completion of the transaction, the insider owned 211,198 shares in the company, valued at $13,138,627.58. This trade represents a 6.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 101,406 shares of company stock valued at $6,129,539. Insiders own 0.57% of the company’s stock.

Flex Stock Performance

FLEX opened at $63.04 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. The company has a market cap of $23.31 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. The stock has a 50-day moving average of $63.22 and a 200-day moving average of $58.81. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $72.22.

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. The Goldman Sachs Group lifted their target price on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial upgraded Flex from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, January 14th. Finally, Bank of America boosted their target price on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.11.

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.