Vestmark Advisory Solutions Inc. Invests $288,000 in Flex Ltd. (NASDAQ:FLEX)

Vestmark Advisory Solutions Inc. purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,509 shares of the technology company’s stock, valued at approximately $288,000.

A number of other large investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in Flex during the 4th quarter worth approximately $32,293,000. Arizona State Retirement System grew its position in Flex by 0.4% during the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock worth $4,424,000 after acquiring an additional 403 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Flex during the 4th quarter worth approximately $5,552,000. J.Safra Asset Management Corp grew its position in Flex by 69.1% during the 4th quarter. J.Safra Asset Management Corp now owns 8,534 shares of the technology company’s stock worth $330,000 after acquiring an additional 3,487 shares during the last quarter. Finally, State of Michigan Retirement System bought a new position in Flex in the 4th quarter valued at $3,524,000. 94.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Flex Stock Up 0.7 %

NASDAQ:FLEX opened at $34.70 on Monday. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10. 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 market capitalization of $13.29 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.43 and a beta of 1.07. The stock’s fifty day simple moving average is $40.69 and its 200-day simple moving average is $37.22.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect 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.