Pacer Advisors Inc. Has $2.86 Million Position in Flex Ltd. (NASDAQ:FLEX)

Pacer Advisors Inc. grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 22,534.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 74,466 shares of the technology company’s stock after acquiring an additional 74,137 shares during the period. Pacer Advisors Inc.’s holdings in Flex were worth $2,859,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the third quarter worth approximately $29,000. Huntington National Bank raised its stake in Flex by 87.9% during the third 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. Kathleen S. Wright Associates Inc. acquired a new stake in Flex during the 3rd quarter worth about $39,000. Quarry LP bought a new stake in shares of Flex during the 2nd quarter valued at about $43,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Flex by 23.6% during 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 in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Stock Down 1.0 %

FLEX opened at $41.65 on Friday. Flex Ltd. has a fifty-two week low of $23.64 and a fifty-two week high of $45.10. The firm has a market capitalization of $16.15 billion, a P/E ratio of 16.79, a PEG ratio of 2.61 and a beta of 1.10. The company’s 50-day moving average is $39.96 and its 200 day moving average is $35.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

Flex (NASDAQ:FLEX) last announced its 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 return on equity of 17.83% and a net margin of 3.95%. Research analysts expect that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on FLEX shares. Barclays increased their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $43.67.

Insider Buying and Selling at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

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.