EverSource Wealth Advisors LLC Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

EverSource Wealth Advisors LLC raised its position in Flex Ltd. (NASDAQ:FLEX) by 82.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,553 shares of the technology company’s stock after buying an additional 704 shares during the period. EverSource Wealth Advisors LLC’s holdings in Flex were worth $60,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Flex in the 4th quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex in the 4th quarter worth about $38,000. Huntington National Bank boosted its holdings 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 buying an additional 479 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in 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. Finally, UMB Bank n.a. acquired a new stake in Flex in the 4th quarter worth about $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value 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 $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on FLEX. Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus assumed coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $44.33.

Flex Stock Up 3.3 %

Shares of NASDAQ FLEX opened at $35.95 on Thursday. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 14.50, 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. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The business’s 50 day moving average is $39.86 and its two-hundred day moving average is $37.30.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping 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%. Research analysts predict that Flex Ltd. will post 2.33 EPS 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.