Brookwood Investment Group LLC Takes $225,000 Position in Flex Ltd. (NASDAQ:FLEX)

Key Points

• Brookwood Investment Group LLC has acquired a new position in Flex Ltd. by purchasing 6,788 shares valued at approximately $225,000 during the first quarter.
• Institutional investors collectively own 94.30% of Flex Ltd.'s stock, with notable increases in holdings from firms like Vanguard Group and Invesco.
• Analysts are optimistic about Flex's future, with upgraded price targets, including JPMorgan Chase raising it from $44.00 to $60.00 and Bank of America increasing theirs to $58.00, maintaining a consensus buy rating.

Brookwood Investment Group LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,788 shares of the technology company's stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sowell Financial Services LLC bought a new position in Flex in the first quarter valued at approximately $246,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Flex by 7,157.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company's stock valued at $2,290,000 after buying an additional 68,065 shares in the last quarter. Brandywine Global Investment Management LLC lifted its stake in Flex by 219.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock valued at $5,119,000 after buying an additional 91,571 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Flex by 7.6% in the first quarter. Sequoia Financial Advisors LLC now owns 107,713 shares of the technology company's stock valued at $3,563,000 after buying an additional 7,637 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Flex by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company's stock valued at $229,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FLEX. Wall Street Zen raised shares of Flex from a "buy" rating to a "strong-buy" rating in a research note on Saturday. KeyCorp boosted their price objective on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Barclays boosted their price objective on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Stifel Nicolaus boosted their price objective on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Flex in a research report on Friday, July 11th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Flex has an average rating of "Buy" and a consensus target price of $53.71.

Insider Activity at Flex

In other Flex news, CEO Revathi Advaithi sold 181,028 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $42.91, for a total value of $7,767,911.48. Following the transaction, the chief executive officer directly owned 1,463,695 shares in the company, valued at $62,807,152.45. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kwang Hooi Tan sold 37,533 shares of the company's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,148,441 shares of company stock valued at $48,211,090 in the last ninety days. Company insiders own 0.57% of the company's stock.

Flex Stock Up 0.2%

FLEX traded up $0.12 during trading on Wednesday, reaching $51.92. 745,621 shares of the stock were exchanged, compared to its average volume of 4,133,700. The stock has a market cap of $19.49 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $53.97. The stock's 50 day moving average price is $47.42 and its two-hundred day moving average price is $40.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

About Flex

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.