Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 6,062 Shares of Flex Ltd. $FLEX

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Flex Ltd. (NASDAQ:FLEX) by 63.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,685 shares of the technology company’s stock after purchasing an additional 6,062 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Flex were worth $1,027,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of FLEX. Resonant Capital Advisors LLC lifted its position in Flex by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after buying an additional 163 shares during the last quarter. Parkside Financial Bank & Trust grew 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 valued at $28,000 after acquiring an additional 166 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after acquiring an additional 181 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of Flex by 2.1% in the 1st quarter. Hunter Associates Investment Management LLC now owns 9,675 shares of the technology company’s stock worth $635,000 after acquiring an additional 200 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in shares of Flex by 0.7% in the 4th quarter. Fred Alger Management LLC now owns 30,881 shares of the technology company’s stock worth $1,866,000 after acquiring an additional 210 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

Shares of Flex stock opened at $128.72 on Thursday. The company’s fifty day simple moving average is $143.85 and its two-hundred day simple moving average is $95.21. Flex Ltd. has a 12-month low of $47.83 and a 12-month high of $166.86. The firm has a market cap of $47.16 billion, a PE ratio of 55.24, a price-to-earnings-growth ratio of 0.70 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm 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%. As a group, equities analysts expect that Flex Ltd. will post 4.15 EPS for the current year.

Insiders Place Their Bets

In other Flex news, COO Kwang Hooi Tan sold 26,657 shares of the company’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 22,627 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the sale, the insider owned 253,199 shares in the company, valued at approximately $36,582,191.52. This represents a 8.20% 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. Over the last 90 days, insiders sold 769,195 shares of company stock worth $110,116,823. 0.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Stifel Nicolaus boosted their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. The Goldman Sachs Group lifted their price objective on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Robert W. Baird set a $165.00 target price on Flex in a research note on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

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.