Impact Partnership Wealth LLC Acquires 6,276 Shares of Flex Ltd. $FLEX

Impact Partnership Wealth LLC lifted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 56.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,318 shares of the technology company’s stock after purchasing an additional 6,276 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Flex were worth $1,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Forsta AP Fonden bought a new position in shares of Flex during the 4th quarter worth about $7,637,000. Norges Bank bought a new position in shares of Flex during the 4th quarter worth about $319,756,000. Fideuram Asset Management Ireland dac bought a new position in shares of Flex during the 4th quarter worth about $979,000. National Pension Service bought a new position in shares of Flex during the 4th quarter worth about $37,548,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Flex by 5.6% during the 4th quarter. Rothschild Investment LLC now owns 4,911 shares of the technology company’s stock worth $297,000 after acquiring an additional 262 shares during the period. 94.30% of the stock is owned by institutional investors.

Insider Activity at Flex

In other Flex news, CEO Revathi Advaithi sold 83,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the transaction, the chief executive officer directly owned 605,522 shares of the company’s stock, valued at approximately $80,455,708.14. The trade was a 12.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,216 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the transaction, the insider directly owned 232,706 shares of the company’s stock, valued at approximately $33,132,680.28. This represents a 8.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 329,512 shares of company stock valued at $44,459,298. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the subject of a number of analyst reports. KeyCorp raised their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. The Goldman Sachs Group raised their price objective on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Raymond James Financial set a $80.00 price objective on shares of Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Robert W. Baird set a $165.00 price target on shares of Flex in a report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $112.80.

Flex Stock Performance

NASDAQ FLEX opened at $150.65 on Friday. The firm has a market cap of $55.19 billion, a price-to-earnings ratio of 64.66, a PEG ratio of 0.76 and a beta of 1.46. The company has a 50 day moving average of $98.58 and a 200-day moving average of $75.42. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 1-year low of $41.43 and a 1-year high of $154.25.

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

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.