Expressive Wealth LLC Purchases New Holdings in Flex Ltd. $FLEX

Key Points

• Expressive Wealth LLC opened a new position in Flex, buying 8,041 shares in the fourth quarter worth about $486,000.
• Institutional ownership in Flex remains very high, with major funds like Vanguard and State Street significantly increasing their stakes; overall, 94.30% of the stock is owned by institutions and hedge funds.
• Analyst sentiment is broadly positive: Flex has a Moderate Buy consensus rating and an average price target of $112.80, while the stock recently traded up 8.1% to $143.24.

Expressive Wealth LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,041 shares of the technology company's stock, valued at approximately $486,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the period. State Street Corp boosted its stake in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock worth $611,997,000 after acquiring an additional 3,377,669 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Flex by 118.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company's stock worth $162,968,000 after acquiring an additional 1,522,308 shares during the period. JPMorgan Chase & Co. lifted its holdings in Flex by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company's stock worth $153,374,000 after purchasing an additional 1,183,464 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of Flex in the third quarter valued at about $56,270,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on FLEX shares. Stifel Nicolaus lifted their price objective on Flex from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, April 20th. Raymond James Financial set a $80.00 price objective on Flex and gave the company an "outperform" rating in a report on Wednesday, February 4th. Zacks Research raised Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Barclays lifted their price target on Flex from $72.00 to $174.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Flex currently has an average rating of "Moderate Buy" and an average price target of $112.80.

Flex Trading Up 8.1%

Shares of FLEX stock opened at $143.24 on Wednesday. The firm has a market capitalization of $52.48 billion, a P/E ratio of 61.48, a P/E/G ratio of 0.70 and a beta of 1.46. Flex Ltd. has a twelve month low of $41.43 and a twelve month high of $147.34. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock's fifty day simple moving average is $93.62 and its 200 day simple moving average is $73.73.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion for the quarter. As a group, sell-side analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Transactions at Flex

In other news, COO Kwang Hooi Tan sold 17,500 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total value of $2,378,775.00. Following the transaction, the chief operating officer directly owned 238,543 shares of the company's stock, valued at $32,425,149.99. The trade was a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 83,500 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the transaction, the chief executive officer directly owned 605,522 shares in the company, valued at $80,455,708.14. This represents a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 329,512 shares of company stock worth $44,459,298. 0.57% of the stock is currently owned by insiders.

Flex Company 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.

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