Meitav Dash Investments Ltd. Invests $3.81 Million in Flex Ltd. (NASDAQ:FLEX)

Meitav Dash Investments Ltd. bought a new position in Flex Ltd. (NASDAQ:FLEXGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 205,135 shares of the technology company’s stock, valued at approximately $3,805,000.

Several other large investors have also made changes to their positions in the company. Sound Shore Management Inc. CT raised its position in shares of Flex by 1.2% in the 1st quarter. Sound Shore Management Inc. CT now owns 8,715,075 shares of the technology company’s stock worth $161,665,000 after buying an additional 106,675 shares during the period. Aigen Investment Management LP grew its stake in shares of Flex by 687.8% in the first quarter. Aigen Investment Management LP now owns 125,764 shares of the technology company’s stock valued at $2,333,000 after buying an additional 109,801 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Flex by 61.6% during the 1st quarter. Royce & Associates LP now owns 589,581 shares of the technology company’s stock valued at $10,937,000 after buying an additional 224,700 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Flex by 4.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 52,225 shares of the technology company’s stock worth $969,000 after acquiring an additional 2,314 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in Flex by 7.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 193,657 shares of the technology company’s stock worth $2,258,000 after acquiring an additional 13,101 shares during the period. 95.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Flex

In related news, CEO Revathi Advaithi sold 55,639 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $17.48, for a total transaction of $972,569.72. Following the sale, the chief executive officer now directly owns 1,201,971 shares of the company’s stock, valued at approximately $21,010,453.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Flex news, CEO Revathi Advaithi sold 55,639 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $17.48, for a total value of $972,569.72. Following the sale, the chief executive officer now directly owns 1,201,971 shares of the company’s stock, valued at $21,010,453.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Scott Offer sold 12,984 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $17.48, for a total value of $226,960.32. Following the completion of the sale, the executive vice president now directly owns 204,950 shares in the company, valued at $3,582,526. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 637,237 shares of company stock valued at $9,633,019. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group decreased their price target on Flex from $24.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Argus upgraded Flex from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, May 18th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Saturday.

Flex Stock Performance

Flex stock opened at $17.16 on Friday. The stock has a market cap of $7.83 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.63 and a beta of 1.53. The company has a current ratio of 1.31, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $15.56 and a 200-day moving average of $16.33. Flex Ltd. has a 52 week low of $13.63 and a 52 week high of $19.50.

Flex (NASDAQ:FLEXGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.45 billion. Flex had a return on equity of 23.91% and a net margin of 3.40%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. On average, analysts expect that Flex Ltd. will post 1.71 EPS for the current fiscal year.

Flex Company Profile

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Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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