FNY Investment Advisers LLC Takes $810,000 Position in Flex Ltd. $FLEX

FNY Investment Advisers LLC bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the technology company’s stock, valued at approximately $810,000.

A number of other large investors have also bought and sold shares of FLEX. Parkside Financial Bank & Trust boosted its position in shares of Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Flex in the 4th quarter valued at about $28,000. Gables Capital Management Inc. bought a new stake in Flex in the 4th quarter valued at about $42,000. Caitong International Asset Management Co. Ltd raised its stake in Flex by 6,318.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after buying an additional 695 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in Flex by 58.1% in the fourth quarter. CENTRAL TRUST Co now owns 797 shares of the technology company’s stock worth $48,000 after acquiring an additional 293 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Up 0.6%

NASDAQ:FLEX opened at $122.65 on Friday. The stock’s fifty day moving average price is $137.96 and its two-hundred day moving average price is $101.60. The company has a market cap of $45.31 billion, a P/E ratio of 47.36, a P/E/G ratio of 0.62 and a beta of 1.67. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. Flex Ltd. has a 1 year low of $47.83 and a 1 year high of $166.86.

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 business had revenue of $7.93 billion for the quarter. As a group, analysts expect that Flex Ltd. will post 4.27 EPS for the current year.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 7,269 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.22, for a total value of $1,055,604.18. Following the completion of the sale, the insider owned 245,930 shares of the company’s stock, valued at approximately $35,713,954.60. This represents a 2.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 39,188 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.18, for a total value of $5,689,313.84. Following the sale, the chief executive officer owned 584,278 shares of the company’s stock, valued at $84,825,480.04. This represents a 6.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold a total of 754,195 shares of company stock worth $108,044,723 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James Financial set a $170.00 target price on Flex and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group cut their price objective on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. increased their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.