Farther Finance Advisors LLC Has $236,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Farther Finance Advisors LLC raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 132.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,150 shares of the technology company’s stock after acquiring an additional 3,506 shares during the period. Farther Finance Advisors LLC’s holdings in Flex were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its stake in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares during the period. Sage Rhino Capital LLC grew its stake in Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock valued at $1,358,000 after acquiring an additional 374 shares during the period. Arizona State Retirement System grew its stake in Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock valued at $4,424,000 after acquiring an additional 403 shares during the period. Raymond James Trust N.A. boosted its position in shares of Flex by 2.0% during the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after buying an additional 413 shares during the period. Finally, Huntington National Bank boosted its position in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $34.79 on Wednesday. The stock has a 50 day moving average price of $39.96 and a 200 day moving average price of $37.31. 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. The stock has a market capitalization of $13.33 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the subject of several recent research reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Barclays upped their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $44.33.

Insider Buying and Selling at Flex

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

About Flex

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.