Advisor OS LLC Boosts Holdings in Flex Ltd. (NASDAQ:FLEX)

Advisor OS LLC raised its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 125.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,775 shares of the technology company’s stock after buying an additional 11,021 shares during the quarter. Advisor OS LLC’s holdings in Flex were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in Flex during the fourth quarter valued at $1,697,000. One Wealth Advisors LLC bought a new position in shares of Flex during the 4th quarter valued at about $368,000. JPMorgan Chase & Co. grew its position in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Flex by 113.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock worth $16,259,000 after purchasing an additional 257,975 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Flex by 872.7% in the fourth quarter. KBC Group NV now owns 104,132 shares of the technology company’s stock worth $3,998,000 after buying an additional 93,426 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FLEX shares. Stifel Nicolaus assumed coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Barclays raised their target price 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 upped their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $44.33.

Flex Stock Up 3.1 %

Shares of FLEX opened at $39.76 on Thursday. 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 $41.05 and a 200 day moving average of $36.92. The company has a market cap of $15.23 billion, a PE ratio of 16.03, a P/E/G ratio of 2.43 and a beta of 1.10. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10.

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

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction on 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 sale, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by 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.