Parcion Private Wealth LLC Purchases New Position in Flex Ltd. (NASDAQ:FLEX)

Parcion Private Wealth LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,515 shares of the technology company’s stock, valued at approximately $452,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. bought a new position in shares of Flex in the third quarter worth about $39,000. Quarry LP bought a new position in shares of Flex in the second quarter worth about $43,000. American Capital Advisory LLC bought a new position in shares of Flex in the second quarter worth about $46,000. J.Safra Asset Management Corp raised its stake in shares of Flex by 623.6% in the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after acquiring an additional 2,538 shares during the last quarter. Finally, Whittier Trust Co. raised its stake in shares of Flex by 79.4% in the third quarter. Whittier Trust Co. now owns 3,284 shares of the technology company’s stock worth $110,000 after acquiring an additional 1,453 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FLEX shares. Stifel Nicolaus boosted their price target on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays boosted their price target on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. KeyCorp started coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $39.17.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Flex news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,028 shares of company stock valued at $904,530 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Flex Stock Up 0.6 %

Flex stock opened at $35.21 on Friday. The stock has a market capitalization of $13.98 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $35.84. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $32.49 and a 200-day moving average of $30.97.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Flex had a net margin of 3.54% and a return on equity of 16.23%. On average, equities research analysts anticipate that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Flex 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.