Flex Ltd. (NASDAQ:FLEX) Shares Bought by Samalin Investment Counsel LLC

Samalin Investment Counsel LLC boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,055 shares of the technology company’s stock after acquiring an additional 3,801 shares during the period. Samalin Investment Counsel LLC’s holdings in Flex were worth $847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Natixis Advisors LLC raised its position in Flex by 38.7% during the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock worth $1,185,000 after acquiring an additional 9,892 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of Flex by 5.5% in the third quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company’s stock valued at $2,018,000 after buying an additional 3,121 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Flex in the third quarter valued at approximately $429,000. Advisors Asset Management Inc. raised its position in shares of Flex by 7.6% in the third quarter. Advisors Asset Management Inc. now owns 51,254 shares of the technology company’s stock valued at $1,713,000 after buying an additional 3,627 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Barclays boosted 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $44.33.

Flex Price Performance

FLEX opened at $36.40 on Friday. 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 company has a 50 day moving average of $39.68 and a two-hundred day moving average of $37.37. The company has a market cap of $13.94 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last released its quarterly earnings data 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 net margin of 3.95% and a return on equity of 17.93%. On average, analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

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.