Seascape Capital Management Invests $2.31 Million in Flex Ltd. (NASDAQ:FLEX)

Seascape Capital Management bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 75,845 shares of the technology company's stock, valued at approximately $2,310,000.

A number of other institutional investors have also added to or reduced their stakes in FLEX. Cornerstone Planning Group LLC bought a new stake in Flex in the 3rd quarter worth about $30,000. Quarry LP bought a new stake in Flex in the 1st quarter worth about $38,000. Fifth Third Bancorp grew its position in Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company's stock worth $60,000 after purchasing an additional 1,455 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in Flex in the third quarter valued at about $65,000. Finally, Farther Finance Advisors LLC boosted its stake in Flex by 76.9% in the second quarter. Farther Finance Advisors LLC now owns 2,337 shares of the technology company's stock valued at $65,000 after acquiring an additional 1,016 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLEX has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Flex from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Flex from $29.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the transaction, the insider now owns 154,810 shares of the company's stock, valued at approximately $4,723,253.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the transaction, the insider now owns 154,810 shares of the company's stock, valued at approximately $4,723,253.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 75,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the transaction, the executive vice president now directly owns 162,094 shares in the company, valued at approximately $4,460,826.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,943 shares of company stock valued at $4,055,311. Insiders own 0.56% of the company's stock.

Flex Price Performance

NASDAQ FLEX traded down $0.72 on Friday, hitting $28.38. The stock had a trading volume of 3,964,896 shares, compared to its average volume of 5,086,959. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The firm has a 50-day moving average of $28.13 and a 200-day moving average of $26.66.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.10. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. Equities analysts expect that Flex Ltd. will post 2.16 EPS for the current year.

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.

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