Fulton Bank N.A. Has $1.53 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Fulton Bank N.A. raised its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 209.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,264 shares of the technology company's stock after acquiring an additional 31,329 shares during the quarter. Fulton Bank N.A.'s holdings in Flex were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in Flex in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Flex during the fourth quarter worth approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after buying an additional 509 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Flex by 21,475.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,726 shares of the technology company's stock valued at $57,000 after acquiring an additional 1,718 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Stock Down 0.5%

FLEX stock traded down $0.21 during trading hours on Thursday, reaching $42.56. 2,961,849 shares of the stock were exchanged, compared to its average volume of 3,879,661. The firm's 50-day moving average is $36.06 and its 200-day moving average is $38.12. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

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 for the quarter, topping the consensus estimate of $0.69 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.22 billion. Flex had a return on equity of 17.93% and a net margin of 3.95%. Flex's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLEX. JPMorgan Chase & Co. cut their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. KeyCorp boosted their target price on Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Flex currently has a consensus rating of "Buy" and an average price target of $45.33.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 87,093 shares of Flex 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 now owns 71,001 shares in the company, valued at approximately $2,586,566.43. This trade represents a 55.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Wendler sold 4,502 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total value of $189,038.98. Following the transaction, the chief accounting officer now directly owns 38,676 shares in the company, valued at approximately $1,624,005.24. This trade represents a 10.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 710,106 shares of company stock worth $29,050,539. Insiders own 0.82% of the company's stock.

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.