Segall Bryant & Hamill LLC Buys Shares of 7,034 Flex Ltd. $FLEX

Segall Bryant & Hamill LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 7,034 shares of the technology company’s stock, valued at approximately $446,000.

A number of other institutional investors have also recently bought and sold shares of FLEX. Parkside Financial Bank & Trust grew its stake 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 acquiring an additional 166 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Flex in the 4th quarter valued at $28,000. Gables Capital Management Inc. bought a new position in shares of Flex during the fourth quarter worth approximately $42,000. Caitong International Asset Management Co. Ltd lifted its position in Flex by 6,318.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after purchasing an additional 695 shares during the period. Finally, CENTRAL TRUST Co increased its stake in shares of Flex by 58.1% in the 4th quarter. CENTRAL TRUST Co now owns 797 shares of the technology company’s stock valued at $48,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Price Performance

FLEX opened at $122.65 on Friday. Flex Ltd. has a 12-month low of $47.83 and a 12-month high of $166.86. The stock has a fifty day simple moving average of $137.96 and a two-hundred day simple moving average of $101.60. The company has a market cap of $45.31 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 0.62 and a beta of 1.67. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.

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

Wall Street Analyst Weigh In

Several research firms recently commented on FLEX. The Goldman Sachs Group cut their target price on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Stifel Nicolaus boosted their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Robert W. Baird set a $142.00 price target on shares of Flex in a research report on Thursday, July 30th. Finally, Barclays cut their price target 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 research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.20.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 7,269 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.22, for a total value of $1,055,604.18. Following the completion of the transaction, the insider owned 245,930 shares of the company’s stock, valued at approximately $35,713,954.60. The trade was a 2.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 6,657 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.23, for a total value of $966,796.11. Following the sale, the executive vice president owned 91,122 shares of the company’s stock, valued at approximately $13,233,648.06. This trade represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 754,195 shares of company stock worth $108,044,723. Insiders own 0.62% of the company’s stock.

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.