Moran Wealth Management LLC Has $6.68 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Moran Wealth Management LLC grew its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 114.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,886 shares of the technology company's stock after acquiring an additional 107,847 shares during the quarter. Moran Wealth Management LLC owned 0.05% of Flex worth $6,678,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. United Services Automobile Association bought a new position in Flex in the fourth quarter worth $982,000. Brandywine Global Investment Management LLC lifted its holdings in shares of Flex by 219.2% during the 4th 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 acquired a new stake in shares of Flex during the 4th quarter valued at about $7,864,000. Farther Finance Advisors LLC increased its stake in Flex by 142.9% in the first quarter. Farther Finance Advisors LLC now owns 14,940 shares of the technology company's stock valued at $498,000 after acquiring an additional 8,790 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Flex in the fourth quarter worth about $32,293,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Price Performance

Shares of NASDAQ:FLEX traded up $1.07 during midday trading on Thursday, reaching $50.09. The company's stock had a trading volume of 5,114,661 shares, compared to its average volume of 3,897,265. The business's fifty day simple moving average is $40.44 and its 200-day simple moving average is $38.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.79. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $50.65. The company has a market capitalization of $18.70 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.78 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FLEX shares. Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Barclays upped their price target on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reduced their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Bank of America increased their target price on shares of Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $46.00.

Insider Buying and Selling

In related news, CAO Daniel Wendler sold 4,502 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 value of $189,038.98. Following the sale, the chief accounting officer now directly owns 38,676 shares in the company, valued at $1,624,005.24. This trade represents a 10.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael P. Hartung sold 32,173 shares of Flex stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $1,350,944.27. Following the transaction, the insider now directly owns 270,483 shares in the company, 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 1,135,941 shares of company stock worth $47,582,965 in the last quarter. Insiders own 0.82% of the company's stock.

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.