Sowell Financial Services LLC Has $1.44 Million Stock Position in Flex Ltd. $FLEX

Sowell Financial Services LLC grew its position in Flex Ltd. (NASDAQ:FLEX) by 220.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,891 shares of the technology company’s stock after purchasing an additional 17,128 shares during the period. Sowell Financial Services LLC’s holdings in Flex were worth $1,443,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new position in Flex during the fourth quarter valued at approximately $260,000. Vident Advisory LLC increased its stake in shares of Flex by 205.5% during the 1st quarter. Vident Advisory LLC now owns 19,674 shares of the technology company’s stock worth $651,000 after purchasing an additional 13,235 shares during the last quarter. Quarry LP raised its holdings in shares of Flex by 203.2% during the 1st quarter. Quarry LP now owns 3,447 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,310 shares in the last quarter. Graham Capital Management L.P. lifted its stake in shares of Flex by 88.0% in the 1st quarter. Graham Capital Management L.P. now owns 18,802 shares of the technology company’s stock valued at $622,000 after purchasing an additional 8,802 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in Flex by 108.9% in the first quarter. Maverick Capital Ltd. now owns 18,683 shares of the technology company’s stock worth $618,000 after purchasing an additional 9,740 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Down 1.2%

Shares of FLEX stock opened at $62.56 on Tuesday. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The firm has a market cap of $23.13 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. The stock has a 50 day moving average of $62.41 and a 200-day moving average of $56.50.

Analysts Set New Price Targets

A number of brokerages have weighed in on FLEX. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price objective on shares of Flex in a research note on Wednesday, November 12th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.88.

Insider Transactions at Flex

In related news, Director Michael E. Hurlston sold 10,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the sale, the director owned 58,561 shares in the company, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total value of $933,150.00. Following the transaction, the insider owned 211,198 shares in the company, valued at $13,138,627.58. This represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 107,500 shares of company stock worth $6,593,750. 0.57% of the stock is currently owned by insiders.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.