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

Farther Finance Advisors LLC boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 132.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,150 shares of the technology company’s stock after buying an additional 3,506 shares during the quarter. Farther Finance Advisors LLC’s holdings in Flex were worth $236,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FLEX. Geode Capital Management LLC boosted its stake in Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after buying an additional 3,844,935 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after buying an additional 2,170,262 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Flex by 210.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company’s stock valued at $75,148,000 after buying an additional 1,327,298 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Flex in the 4th quarter valued at $33,363,000. Finally, Raymond James Financial Inc. acquired a new stake in Flex in the 4th quarter valued at $32,293,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus assumed coverage on Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flex has a consensus rating of “Buy” and a consensus price target of $44.33.

Flex Trading Down 1.2 %

FLEX stock opened at $34.79 on Wednesday. The company has a market cap of $13.33 billion, a P/E ratio of 14.03, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $39.96 and a 200-day moving average of $37.31.

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

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was 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 approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

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.