Mount Yale Investment Advisors LLC Invests $281,000 in Flex Ltd. (NASDAQ:FLEX)

Mount Yale Investment Advisors LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,826 shares of the technology company’s stock, valued at approximately $281,000.

Several other large investors also recently modified their holdings of the stock. Boston Partners grew its position in shares of Flex by 7.5% during the 4th quarter. Boston Partners now owns 8,967,046 shares of the technology company’s stock worth $272,891,000 after buying an additional 624,414 shares during the period. LSV Asset Management grew its position in Flex by 0.7% in the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock valued at $214,660,000 after purchasing an additional 51,068 shares during the period. Vanguard Group Inc. grew its position in Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after purchasing an additional 141,580 shares during the period. Norges Bank acquired a new stake in Flex in the 4th quarter valued at $165,000,000. Finally, Sound Shore Management Inc. CT grew its position in Flex by 3.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock valued at $117,942,000 after purchasing an additional 128,766 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their price objective on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $39.00 in a report on Thursday. Finally, StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.40.

Flex Stock Performance

Flex stock traded down $0.20 during midday trading on Monday, reaching $31.81. The stock had a trading volume of 3,439,669 shares, compared to its average volume of 4,556,560. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12. The firm’s 50-day moving average price is $31.14 and its 200 day moving average price is $28.67. The firm has a market capitalization of $12.69 billion, a PE ratio of 13.92, a P/E/G ratio of 2.14 and a beta of 1.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Flex had a return on equity of 15.53% and a net margin of 3.54%. As a group, research analysts predict that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, Director Michael D. Capellas sold 78,872 shares of Flex stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total transaction of $2,653,254.08. Following the completion of the transaction, the director now owns 219,037 shares of the company’s stock, valued at approximately $7,368,404.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kwang Hooi Tan sold 14,599 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $28.65, for a total transaction of $418,261.35. Following the completion of the transaction, the insider now owns 163,656 shares of the company’s stock, valued at $4,688,744.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Capellas sold 78,872 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the sale, the director now directly owns 219,037 shares of the company’s stock, valued at approximately $7,368,404.68. The disclosure for this sale can be found here. Insiders sold 804,542 shares of company stock valued at $25,147,972 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

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.