73,060 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Denali Advisors LLC

Denali Advisors LLC acquired a new position in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 73,060 shares of the technology company’s stock, valued at approximately $2,805,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in Flex in the 3rd quarter worth approximately $29,000. Huntington National Bank boosted its holdings in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the period. R Squared Ltd bought a new position in Flex in the 4th quarter valued at $35,000. First Horizon Advisors Inc. boosted its holdings in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares during the period. Finally, UMB Bank n.a. bought a new position in Flex in the 4th quarter valued at $64,000. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $38.58 on Wednesday. The company has a market capitalization of $14.78 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.43 and a beta of 1.10. The company has a fifty day moving average of $41.05 and a 200-day moving average of $36.92. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, equities research analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on FLEX shares. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Barclays raised their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.33.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.