Sequoia Financial Advisors LLC Boosts Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Sequoia Financial Advisors LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 7.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,713 shares of the technology company's stock after purchasing an additional 7,637 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Flex were worth $3,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Moran Wealth Management LLC raised its position in shares of Flex by 114.7% in the first quarter. Moran Wealth Management LLC now owns 201,886 shares of the technology company's stock valued at $6,678,000 after buying an additional 107,847 shares in the last quarter. Figure 8 Investment Strategies LLC raised its holdings in Flex by 7.3% in the 1st quarter. Figure 8 Investment Strategies LLC now owns 76,413 shares of the technology company's stock valued at $2,528,000 after acquiring an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Flex by 2.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 196,233 shares of the technology company's stock valued at $6,491,000 after acquiring an additional 4,820 shares during the period. Whalen Wealth Management Inc. grew its holdings in shares of Flex by 63.7% during the 1st quarter. Whalen Wealth Management Inc. now owns 10,921 shares of the technology company's stock worth $361,000 after purchasing an additional 4,251 shares in the last quarter. Finally, Deltec Asset Management LLC increased its position in shares of Flex by 10.1% in the first quarter. Deltec Asset Management LLC now owns 164,219 shares of the technology company's stock worth $5,432,000 after purchasing an additional 15,000 shares during the period. Institutional investors own 94.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FLEX. KeyCorp reiterated an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wall Street Zen downgraded shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $46.00.

Flex Trading Down 0.4%

Shares of Flex stock traded down $0.20 on Friday, reaching $49.89. 31,066,101 shares of the company's stock were exchanged, compared to its average volume of 3,994,252. The firm's 50-day moving average is $41.18 and its two-hundred day moving average is $38.88. The company has a market capitalization of $18.64 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. 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 Ltd. has a 52 week low of $25.11 and a 52 week high of $50.62.

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

Insider Activity at Flex

In related news, CEO Revathi Advaithi sold 120,280 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $38.09, for a total value of $4,581,465.20. Following the sale, the chief executive officer now owns 1,112,193 shares in the company, valued at $42,363,431.37. This represents a 9.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Scott Offer sold 87,093 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the sale, the executive vice president now owns 71,001 shares of the company's stock, valued at approximately $2,586,566.43. This represents a 55.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,135,941 shares of company stock valued at $47,582,965. 0.82% of the stock is owned by company insiders.

Flex 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.