West Michigan Advisors LLC Purchases Shares of 4,725 Flex Ltd. $FLEX

West Michigan Advisors LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,725 shares of the technology company’s stock, valued at approximately $236,000.

Several other hedge funds also recently modified their holdings of the business. BayBridge Capital Group LLC increased its position in Flex by 2.1% in the second quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company’s stock worth $569,000 after purchasing an additional 235 shares during the period. Pinnacle Bancorp Inc. increased its position in shares of Flex by 39.4% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock worth $43,000 after purchasing an additional 244 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Flex by 1.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company’s stock valued at $759,000 after buying an additional 266 shares in the last quarter. Uncommon Cents Investing LLC grew its holdings in Flex by 4.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 6,850 shares of the technology company’s stock valued at $342,000 after buying an additional 270 shares in the last quarter. Finally, Dynasty Wealth Management LLC lifted its position in shares of Flex by 0.7% during the 1st quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company’s stock valued at $1,232,000 after acquiring an additional 276 shares during the period. 94.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FLEX shares. Bank of America increased their target price on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Stifel Nicolaus boosted their target price on Flex from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Barclays boosted their price objective on Flex from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. KGI Securities lowered Flex from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Finally, KeyCorp upped their price objective on Flex from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.71.

Insiders Place Their Bets

In other Flex news, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the sale, the director owned 17,012 shares of the company’s stock, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction on Monday, July 28th. The stock was sold at an average price of $50.25, for a total value of $628,125.00. Following the completion of the sale, the chief operating officer directly owned 263,636 shares of the company’s stock, valued at approximately $13,247,709. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is owned by corporate insiders.

Flex Stock Up 0.6%

Shares of NASDAQ:FLEX opened at $64.28 on Friday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $65.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The firm has a market capitalization of $24.13 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.08 and a beta of 1.15. The stock has a 50 day moving average price of $57.07 and a 200-day moving average price of $48.31.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09. The company had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. As a group, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.