One Wealth Advisors LLC Makes New $368,000 Investment in Flex Ltd. (NASDAQ:FLEX)

One Wealth Advisors LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,579 shares of the technology company’s stock, valued at approximately $368,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after purchasing an additional 3,844,935 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after purchasing an additional 2,170,262 shares during the last quarter. Simcoe Capital Management LLC purchased a new position in shares of Flex in the 3rd quarter valued at approximately $22,075,000. State Street Corp grew its stake in shares of Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Flex by 2,600.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company’s stock valued at $16,503,000 after purchasing an additional 475,376 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity

In related news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Flex Price Performance

FLEX stock opened at $40.50 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a 1 year low of $24.05 and a 1 year high of $45.10. The firm has a market cap of $15.71 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The stock has a 50-day simple moving average of $39.96 and a 200-day simple moving average of $35.48.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.83% 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 fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Craig Hallum lifted their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays lifted their price target on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus lifted their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flex currently has a consensus rating of “Buy” and an average target price of $43.67.

About Flex

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.