Darwin Wealth Management LLC Acquires Shares of 3,912 Flex Ltd. $FLEX

Darwin Wealth Management LLC bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the first quarter, HoldingsChannel reports. The institutional investor bought 3,912 shares of the technology company’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. USA Financial Formulas purchased a new position in shares of Flex in the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its position in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after acquiring an additional 166 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Flex during the fourth quarter valued at approximately $28,000. Gables Capital Management Inc. acquired a new stake in shares of Flex in the fourth quarter worth approximately $42,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Flex by 6,318.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after purchasing an additional 695 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLEX. The Goldman Sachs Group lifted their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday. KeyCorp boosted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus lifted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.70.

Insiders Place Their Bets

In other Flex news, COO Kwang Hooi Tan sold 26,657 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the transaction, the chief operating officer owned 257,527 shares of the company’s stock, valued at $37,207,500.96. This represents a 9.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president owned 73,471 shares in the company, valued at $11,307,921.61. This trade represents a 30.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 769,195 shares of company stock valued at $110,116,823. Insiders own 0.62% of the company’s stock.

Flex Trading Down 3.0%

Shares of FLEX opened at $135.80 on Friday. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $49.75 billion, a P/E ratio of 58.28, a PEG ratio of 0.74 and a beta of 1.64. The firm’s 50-day moving average is $142.50 and its two-hundred day moving average is $93.60.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter. On average, research analysts predict that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

About Flex

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.