Envestnet Portfolio Solutions Inc. Boosts Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Envestnet Portfolio Solutions Inc. boosted its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 47.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 87,248 shares of the technology company's stock after buying an additional 28,227 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Flex were worth $2,658,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FLEX. Commonwealth Equity Services LLC increased its holdings in Flex by 58.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 33,370 shares of the technology company's stock valued at $900,000 after buying an additional 12,248 shares during the period. Bank of New York Mellon Corp grew its position in Flex by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 463,264 shares of the technology company's stock valued at $12,499,000 after acquiring an additional 14,205 shares during the last quarter. Allworth Financial LP raised its stake in Flex by 345.1% during the third quarter. Allworth Financial LP now owns 3,209 shares of the technology company's stock worth $87,000 after acquiring an additional 2,488 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Flex by 15.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 186,855 shares of the technology company's stock valued at $5,041,000 after purchasing an additional 25,283 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Flex by 58.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,478,476 shares of the technology company's stock valued at $39,889,000 after acquiring an additional 544,980 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Flex from $32.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Barclays lifted their target price on Flex from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. The Goldman Sachs Group raised their price objective on Flex from $29.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. StockNews.com initiated coverage on shares of Flex in a research report on Wednesday, March 6th. They set a "hold" rating for the company. Finally, Craig Hallum lowered shares of Flex from a "buy" rating to a "hold" rating and reduced their price objective for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.83.

Flex Stock Up 0.5 %

FLEX traded up $0.14 during trading on Friday, hitting $29.30. 2,006,603 shares of the company's stock were exchanged, compared to its average volume of 4,873,617. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $30.93. The stock has a market cap of $12.34 billion, a P/E ratio of 12.74, a PEG ratio of 1.96 and a beta of 1.18. The business's 50 day moving average is $28.42 and its two-hundred day moving average is $27.12. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53.

Insider Activity at Flex

In other Flex news, insider Kwang Hooi Tan sold 14,599 shares of the company's stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total value of $418,261.35. Following the completion of the transaction, the insider now owns 163,656 shares in the company, valued at approximately $4,688,744.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Kwang Hooi Tan sold 14,599 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the completion of the transaction, the insider now directly owns 163,656 shares of the company's stock, valued at approximately $4,688,744.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Revathi Advaithi sold 161,052 shares of Flex stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total transaction of $4,614,139.80. Following the completion of the sale, the chief executive officer now directly owns 1,903,404 shares in the company, valued at approximately $54,532,524.60. The disclosure for this sale can be found here. Insiders have sold 395,451 shares of company stock valued at $11,323,452 over the last ninety days. Corporate insiders own 0.56% of the company's stock.

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.