Foster & Motley Inc. Takes $727,000 Position in Flex Ltd. $FLEX

Foster & Motley Inc. purchased a new position in Flex Ltd. (NASDAQ:FLEX) during the 2nd quarter, Holdings Channel reports. The fund purchased 4,484 shares of the technology company’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JSF Financial LLC grew its stake in Flex by 0.6% in the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 115 shares in the last quarter. Glenview Trust Co boosted its stake in Flex by 3.4% in the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after acquiring an additional 125 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Flex by 2.1% during the first quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after acquiring an additional 163 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares during the period. Finally, Bessemer Group Inc. raised its position in Flex by 7.9% during the first quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock valued at $159,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Stock Down 6.0%

FLEX opened at $113.03 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. The company has a market cap of $41.75 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 0.61 and a beta of 1.67. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86. The business’s fifty day moving average is $132.61 and its two-hundred day moving average is $105.24.

Flex (NASDAQ:FLEX) last announced its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The company had revenue of $7.93 billion during the quarter. Analysts anticipate that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 1,311 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total transaction of $190,357.20. Following the transaction, the chief accounting officer owned 37,932 shares of the company’s stock, valued at $5,507,726.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 7,269 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the sale, the insider directly owned 245,930 shares of the company’s stock, valued at $35,713,954.60. This represents a 2.87% 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. Insiders sold 560,183 shares of company stock valued at $80,426,190 in the last quarter. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FLEX shares. KeyCorp boosted their price objective on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Barclays lowered their target price on Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Robert W. Baird set a $142.00 price objective on shares of Flex in a research report on Thursday, July 30th. Finally, Raymond James Financial set a $170.00 target price on shares of Flex and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.20.

Flex 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.