GSA Capital Partners LLP Buys 47,984 Shares of Flex Ltd. (NASDAQ:FLEX)

GSA Capital Partners LLP boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 287.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,650 shares of the technology company’s stock after buying an additional 47,984 shares during the quarter. GSA Capital Partners LLP’s holdings in Flex were worth $1,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new position in Flex during the 4th quarter valued at about $34,000. CWM LLC grew its position in shares of Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after buying an additional 773 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after buying an additional 1,455 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Flex in the 4th quarter worth approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Flex in the 4th quarter worth approximately $77,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLEX. Barclays boosted their target price on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum downgraded shares of Flex from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.20.

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 37,170 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $1,163,421.00. Following the completion of the sale, the chief executive officer now owns 2,057,473 shares of the company’s stock, valued at $64,398,904.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Paul Lundstrom sold 35,733 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the sale, the chief financial officer now owns 507,752 shares of the company’s stock, valued at $14,547,094.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Revathi Advaithi sold 37,170 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the completion of the sale, the chief executive officer now directly owns 2,057,473 shares in the company, valued at approximately $64,398,904.90. The disclosure for this sale can be found here. Insiders sold 804,542 shares of company stock valued at $25,147,972 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Flex Stock Performance

Shares of FLEX traded up $0.50 during trading hours on Wednesday, hitting $29.80. The stock had a trading volume of 634,808 shares, compared to its average volume of 4,619,913. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.52. The firm has a 50-day moving average price of $30.65 and a 200 day moving average price of $28.37. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.98 and a beta of 1.12.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Flex had a net margin of 3.58% and a return on equity of 16.46%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. As a group, research analysts anticipate that Flex Ltd. will post 2.06 EPS 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.