WR Wealth Planners LLC Has $935,000 Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

WR Wealth Planners LLC cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,345 shares of the technology company’s stock after selling 7,440 shares during the quarter. WR Wealth Planners LLC’s holdings in Flex were worth $935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex in the third quarter valued at $29,000. Huntington National Bank boosted its holdings in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares during the last quarter. R Squared Ltd bought a new position in Flex in the fourth quarter valued at about $35,000. First Horizon Advisors Inc. boosted its holdings in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares during the last quarter. Finally, UMB Bank n.a. bought a new position in Flex in the fourth quarter valued at about $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. 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 Flex 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 transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade 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 company insiders.

Wall Street Analyst Weigh In

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

Flex Price Performance

Shares of FLEX opened at $37.89 on Friday. 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 Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The stock has a market cap of $14.52 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The stock’s 50-day moving average price is $41.09 and its two-hundred day moving average price is $36.94.

Flex (NASDAQ:FLEX) last issued its earnings results 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%. On average, equities analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

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.