Sora Investors LLC Makes New $2.83 Million Investment in Flex Ltd. (NASDAQ:FLEX)

Sora Investors LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 73,815 shares of the technology company's stock, valued at approximately $2,834,000.

A number of other hedge funds have also modified their holdings of FLEX. R Squared Ltd purchased a new position in shares of Flex during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Flex in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Flex in the 4th quarter worth approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares during the period. Finally, Huntington National Bank grew its stake in Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock worth $58,000 after acquiring an additional 478 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Flex

In related news, CAO Daniel Wendler sold 4,502 shares of Flex stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $189,038.98. Following the transaction, the chief accounting officer now owns 38,676 shares in the company, valued at approximately $1,624,005.24. The trade was a 10.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Erin Mcsweeney sold 14,000 shares of Flex stock in a transaction on Friday, May 16th. The shares were sold at an average price of $41.94, for a total transaction of $587,160.00. Following the transaction, the director now owns 22,299 shares in the company, valued at $935,220.06. The trade was a 38.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 489,255 shares of company stock worth $19,589,788. 0.82% of the stock is currently owned by corporate insiders.

Flex Stock Up 0.2%

Shares of NASDAQ:FLEX traded up $0.07 during midday trading on Friday, hitting $42.02. 2,712,274 shares of the company's stock traded hands, compared to its average volume of 3,956,319. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The company has a market cap of $16.10 billion, a PE ratio of 16.94, a P/E/G ratio of 2.43 and a beta of 0.96. The firm's fifty day moving average price is $34.29 and its two-hundred day moving average price is $37.74. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last posted its 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 business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLEX. Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price for the company. KeyCorp lifted their target price on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group lowered their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. StockNews.com cut shares of Flex from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Barclays boosted their price objective on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.33.

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.