Ifrah Financial Services Inc. Reduces Holdings in Flex Ltd. (NASDAQ:FLEX)

Ifrah Financial Services Inc. lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,502 shares of the technology company’s stock after selling 319 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Flex were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Creative Planning grew its holdings in shares of Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after acquiring an additional 839 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Flex during the fourth quarter valued at approximately $1,697,000. One Wealth Advisors LLC purchased a new stake in Flex in the fourth quarter worth $368,000. JPMorgan Chase & Co. raised its holdings in Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Flex by 113.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock valued at $16,259,000 after buying an additional 257,975 shares during the period. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

Shares of NASDAQ FLEX opened at $42.51 on Tuesday. The firm has a market cap of $16.29 billion, a P/E ratio of 17.14, a PEG ratio of 2.58 and a beta of 1.10. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $40.72 and a 200 day moving average of $36.40.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (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, research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’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 in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several research reports. Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. Barclays raised 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, KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.