Retireful LLC Makes New Investment in Flex Ltd. $FLEX

Retireful LLC purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 11,298 shares of the technology company’s stock, valued at approximately $655,000.

Several other hedge funds have also modified their holdings of the stock. Ethic Inc. grew its stake in Flex by 140.2% during the 3rd quarter. Ethic Inc. now owns 46,553 shares of the technology company’s stock worth $2,699,000 after purchasing an additional 27,169 shares in the last quarter. Sowell Financial Services LLC boosted its stake in shares of Flex by 220.6% in the 3rd quarter. Sowell Financial Services LLC now owns 24,891 shares of the technology company’s stock valued at $1,443,000 after buying an additional 17,128 shares during the period. CWM LLC grew its position in shares of Flex by 23.6% during the third quarter. CWM LLC now owns 5,679 shares of the technology company’s stock worth $329,000 after buying an additional 1,084 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Flex by 5,973.9% in the third quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock valued at $79,132,000 after acquiring an additional 1,342,569 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Flex by 171.2% in the third quarter. Harbor Capital Advisors Inc. now owns 2,707 shares of the technology company’s stock worth $157,000 after acquiring an additional 1,709 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In related news, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $71.97, for a total value of $719,700.00. Following the transaction, the chief accounting officer owned 27,619 shares in the company, valued at $1,987,739.43. The trade was a 26.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Kwang Hooi Tan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the completion of the transaction, the chief operating officer directly owned 251,136 shares in the company, valued at approximately $16,293,703.68. The trade was a 4.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 107,500 shares of company stock valued at $6,593,750. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

FLEX has been the topic of several recent analyst reports. KeyCorp increased their target price on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Flex in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and a consensus target price of $65.88.

Flex Stock Performance

Shares of Flex stock opened at $63.33 on Monday. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.68 and a beta of 1.26. The firm’s fifty day simple moving average is $62.42 and its 200-day simple moving average is $56.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22.

Flex 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.