Callan Family Office LLC Takes $212,000 Position in Flex Ltd. (NASDAQ:FLEX)

Callan Family Office LLC bought a new stake in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,529 shares of the technology company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. purchased a new stake in Flex in the 4th quarter valued at $288,000. Raymond James Financial Inc. purchased a new stake in Flex in the 4th quarter valued at $32,293,000. Arizona State Retirement System raised its position in Flex by 0.4% in the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock valued at $4,424,000 after purchasing an additional 403 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Flex in the 4th quarter valued at $5,552,000. Finally, J.Safra Asset Management Corp raised its position in Flex by 69.1% in the 4th quarter. J.Safra Asset Management Corp now owns 8,534 shares of the technology company’s stock valued at $330,000 after purchasing an additional 3,487 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the subject of several research reports. Stifel Nicolaus initiated coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. Barclays upped their price target on shares of 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 shares of 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’s stock. According to MarketBeat.com, Flex currently has an average rating of “Buy” and an average target price of $44.33.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated 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 sale, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. 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 stock in a transaction dated 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 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. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Up 2.5 %

Shares of Flex stock opened at $33.73 on Wednesday. The company has a market cap of $12.92 billion, a P/E ratio of 13.60, a PEG 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 firm has a fifty day moving average of $40.48 and a two-hundred day moving average of $37.23.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

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.