Ashton Thomas Private Wealth LLC Boosts Holdings in Flex Ltd. (NASDAQ:FLEX)

Ashton Thomas Private Wealth LLC boosted its position in Flex Ltd. (NASDAQ:FLEX) by 132.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,031 shares of the technology company’s stock after purchasing an additional 22,238 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Flex were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Flex in the 3rd quarter worth approximately $29,000. Huntington National Bank lifted its stake in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares in the last quarter. R Squared Ltd purchased a new stake in Flex in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new position in shares of Flex in the 4th quarter worth $38,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s 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 completion of the sale, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This represents 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 currently owned by corporate insiders.

Flex Trading Up 0.7 %

Shares of FLEX opened at $34.70 on Friday. The stock has a market capitalization of $13.29 billion, a P/E ratio of 13.99, a PEG ratio of 2.43 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $40.69 and a two-hundred day simple moving average of $37.18. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLEX. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Barclays increased their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $44.33.

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.