Graybill Wealth Management LTD. Makes New $6.71 Million Investment in Flex Ltd. (NASDAQ:FLEX)

Graybill Wealth Management LTD. purchased a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 202,963 shares of the technology company's stock, valued at approximately $6,714,000. Flex comprises about 2.3% of Graybill Wealth Management LTD.'s portfolio, making the stock its 16th largest holding. Graybill Wealth Management LTD. owned approximately 0.05% of Flex as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in shares of Flex by 30.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock valued at $43,000 after acquiring an additional 306 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Flex by 9.2% in the first quarter. Signaturefd LLC now owns 10,245 shares of the technology company's stock valued at $339,000 after purchasing an additional 861 shares in the last quarter. MQS Management LLC bought a new stake in Flex in the first quarter worth $365,000. CWM LLC raised its stake in Flex by 73.3% during the first quarter. CWM LLC now owns 1,281 shares of the technology company's stock valued at $42,000 after purchasing an additional 542 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in Flex by 2.7% during the first quarter. Stephens Inc. AR now owns 12,634 shares of the technology company's stock valued at $418,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Activity at Flex

In related news, COO Kwang Hooi Tan sold 37,533 shares of Flex stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,609,039.71. Following the completion of the sale, the chief operating officer owned 269,151 shares in the company, valued at $11,538,503.37. This trade represents a 12.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 87,093 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the transaction, the executive vice president owned 71,001 shares in the company, valued at $2,586,566.43. This represents a 55.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,135,941 shares of company stock valued at $47,582,965. Company insiders own 0.57% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. KeyCorp upped their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Flex in a research note on Friday. Bank of America boosted their target price on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $49.43.

Flex Trading Down 0.4%

Shares of NASDAQ:FLEX traded down $0.23 during trading hours on Monday, hitting $51.96. 2,794,522 shares of the company's stock traded hands, compared to its average volume of 4,121,047. The firm has a market capitalization of $19.42 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.07. The business has a fifty day moving average price of $44.58 and a 200-day moving average price of $39.77. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $52.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.79.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 19.01% and a net margin of 3.25%. The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter in the previous year, the business earned $0.57 EPS. Flex's revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.