Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 142.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,940 shares of the technology company's stock after buying an additional 8,790 shares during the quarter. Farther Finance Advisors LLC's holdings in Flex were worth $498,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. United Services Automobile Association purchased a new position in shares of Flex in the 4th quarter worth approximately $982,000. Brandywine Global Investment Management LLC raised its position 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 worth $5,119,000 after acquiring an additional 91,571 shares during the period. Mutual of America Capital Management LLC bought a new stake in shares of Flex in the 4th quarter worth approximately $7,864,000. Raymond James Financial Inc. purchased a new position in Flex in the fourth quarter valued at approximately $32,293,000. Finally, American Century Companies Inc. grew its holdings in Flex by 19.7% during the fourth quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock valued at $26,637,000 after purchasing an additional 114,350 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Up 3.1%

Shares of NASDAQ:FLEX traded up $1.36 during trading on Tuesday, reaching $45.27. 6,488,551 shares of the stock traded hands, compared to its average volume of 3,888,002. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.83. The stock has a market cap of $16.90 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.04. The stock has a 50-day moving average of $38.21 and a two-hundred day moving average of $38.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.79 and a current ratio of 1.30.

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

Insider Activity at Flex

In other news, CAO Daniel Wendler sold 884 shares of Flex stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $43.52, for a total value of $38,471.68. Following the transaction, the chief accounting officer now owns 48,864 shares of the company's stock, valued at $2,126,561.28. The trade was a 1.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael P. Hartung sold 32,173 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $1,350,944.27. Following the sale, the insider now directly owns 270,483 shares of the company's stock, valued at $11,357,581.17. The trade was a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,074,948 shares of company stock worth $44,837,670 in the last quarter. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FLEX has been the subject of several recent research reports. Bank of America lifted their price objective on Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wall Street Zen raised shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Barclays raised their price target on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group decreased their price objective on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, KeyCorp reiterated an "overweight" rating on shares of Flex in a research report on Tuesday, June 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flex presently has a consensus rating of "Buy" and a consensus target price of $46.00.

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.