Sequoia Financial Advisors LLC Purchases 5,348 Shares of Flex Ltd. (NASDAQ:FLEX)

Sequoia Financial Advisors LLC grew its stake in Flex Ltd. (NASDAQ:FLEX) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,076 shares of the technology company’s stock after acquiring an additional 5,348 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Flex were worth $3,842,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. 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 worth $53,000 after acquiring an additional 305 shares in the last quarter. Sage Rhino Capital LLC boosted its holdings in Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock worth $1,358,000 after acquiring an additional 374 shares in the last quarter. Arizona State Retirement System boosted its holdings in Flex by 0.4% in the fourth 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 in the last quarter. Raymond James Trust N.A. boosted its holdings in Flex by 2.0% in the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after acquiring an additional 413 shares in the last quarter. Finally, 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 worth $34,000 after acquiring an additional 479 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Stock Down 2.0 %

Flex stock opened at $33.61 on Friday. The stock has a market cap of $12.88 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The stock has a fifty day moving average of $40.30 and a 200 day moving average of $37.19.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

FLEX has been the topic of several analyst reports. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Barclays upped 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. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $44.33.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction on 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 owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction on 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 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 disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

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.