20,522 Shares in Flex Ltd. $FLEX Acquired by JSF Financial LLC

JSF Financial LLC purchased a new position in Flex Ltd. (NASDAQ:FLEX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,522 shares of the technology company’s stock, valued at approximately $1,190,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Flex in the 2nd quarter worth $291,362,000. State Street Corp increased its holdings in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares during the period. Geode Capital Management LLC raised its stake in shares of Flex by 52.1% in the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after purchasing an additional 2,459,511 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Flex by 5,973.9% during the third quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock worth $79,132,000 after purchasing an additional 1,342,569 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Flex by 44.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,928,808 shares of the technology company’s stock worth $146,206,000 after buying an additional 894,790 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on FLEX. JPMorgan Chase & Co. upped their price objective on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Bank of America upped their price target on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and issued a $23.00 target price on shares of Flex in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group raised their target price on Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Flex currently has a consensus rating of “Moderate Buy” and an average price target of $66.11.

Flex Trading Up 1.8%

FLEX stock opened at $66.27 on Thursday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $72.22. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The firm has a market cap of $24.51 billion, a P/E ratio of 29.32, a PEG ratio of 1.72 and a beta of 1.24. The company’s 50-day simple moving average is $62.85 and its 200-day simple moving average is $58.69.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 15,000 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total transaction of $719,700.00. Following the completion of the sale, the chief accounting officer directly owned 27,619 shares in the company, valued at $1,987,739.43. This represents a 26.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 101,406 shares of company stock valued at $6,129,539 in the last ninety days. 0.57% of the stock is currently owned by company insiders.

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.