11,773 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC purchased a new position in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,773 shares of the technology company’s stock, valued at approximately $452,000.

Other hedge funds also recently modified their holdings of the company. Creative Planning increased its position in shares of Flex by 0.6% in the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after purchasing an additional 839 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Flex in the fourth quarter worth $1,697,000. One Wealth Advisors LLC bought a new position in shares of Flex in the fourth quarter worth $368,000. JPMorgan Chase & Co. increased its position in shares of Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in 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 valued at $16,259,000 after buying an additional 257,975 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the topic of several research analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus initiated 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 price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $44.33.

Flex Stock Performance

Shares of FLEX stock opened at $42.45 on Thursday. The business’s 50-day moving average price is $40.90 and its 200-day moving average price is $36.54. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.48 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) 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%. Equities research analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Insider Transactions at Flex

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