Lido Advisors LLC boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 347.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,164 shares of the technology company's stock after acquiring an additional 35,854 shares during the period. Lido Advisors LLC's holdings in Flex were worth $3,022,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. USA Financial Formulas acquired a new position in shares of Flex during the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Flex in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust lifted its position in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock worth $28,000 after buying an additional 166 shares in the last quarter. Gables Capital Management Inc. acquired a new position in Flex during the fourth quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Flex by 6,318.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company's stock worth $43,000 after buying an additional 695 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Robert W. Baird set a $165.00 price objective on shares of Flex in a research report on Thursday, May 7th. Barclays lifted their target price on shares of Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Finally, Stifel Nicolaus boosted their target price on shares of Flex from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.70.
Check Out Our Latest Stock Analysis on FLEX
Flex Stock Performance
NASDAQ FLEX opened at $118.51 on Friday. The stock has a market cap of $43.42 billion, a PE ratio of 50.86, a P/E/G ratio of 0.62 and a beta of 1.64. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86. The stock has a fifty day simple moving average of $141.37 and a 200-day simple moving average of $97.96.
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 (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion for the quarter. Equities analysts anticipate that Flex Ltd. will post 4.18 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Michael P. Hartung sold 7,269 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the completion of the transaction, the insider owned 245,930 shares of the company's stock, valued at approximately $35,713,954.60. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total transaction of $190,357.20. Following the completion of the sale, the chief accounting officer owned 37,932 shares of the company's stock, valued at $5,507,726.40. This trade represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 769,195 shares of company stock worth $110,116,823. Insiders own 0.62% of the company's stock.
About Flex
(
Free Report)
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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