Parcion Private Wealth LLC Acquires 14,182 Shares of Flex Ltd. $FLEX

Parcion Private Wealth LLC acquired 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 fund acquired 14,182 shares of the technology company’s stock, valued at approximately $1,560,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in shares of Flex in the 3rd quarter worth about $25,000. Reyes Financial Architecture Inc. acquired a new position in shares of Flex in the 3rd quarter valued at about $28,000. Rosenberg Matthew Hamilton bought a new stake in shares of Flex during the 3rd quarter valued at about $29,000. Western Wealth Management LLC bought a new stake in shares of Flex during the 1st quarter valued at about $65,000. Finally, Root Financial Partners LLC raised its stake in Flex by 31.9% during the first quarter. Root Financial Partners LLC now owns 1,174 shares of the technology company’s stock worth $77,000 after acquiring an additional 284 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the sale, the insider owned 243,175 shares in the company, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of Flex from $154.00 to $145.00 in a report on Friday, October 16th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. dropped their price target on Flex from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Bank of America dropped their price target on Flex from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barclays cut their price target on Flex from $144.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $131.78.

Flex Stock Performance

Shares of FLEX opened at $86.48 on Friday. The firm has a fifty day moving average of $105.70 and a 200-day moving average of $102.84. The company has a market cap of $31.95 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 0.44 and a beta of 1.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.89 and a current ratio of 1.34. Flex Ltd. has a 1 year low of $53.07 and a 1 year high of $166.86.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.12. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.17 billion. Flex had a net margin of 3.35% and a return on equity of 24.93%. Flex’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. As a group, equities analysts anticipate that Flex Ltd. will post 4.27 earnings per share for the current year.

Flex Profile

Flex Ltd. (NASDAQ: FLEX) is a global manufacturing and supply chain solutions provider. The company helps original equipment manufacturers design, engineer, manufacture, distribute and service products across their lifecycles.

Flex serves customers in industries including automotive, communications, consumer electronics, health care, industrial, lifestyle and cloud infrastructure. Its capabilities include product design and engineering, printed circuit board assembly, systems integration, supply chain management, logistics, and aftermarket services.

The company was founded in 1969 as Flextronics and later adopted the name Flex.