3,725 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new stake in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,725 shares of the technology company’s stock, valued at approximately $144,000.

Several other institutional investors also recently made changes to their positions in FLEX. SBI Securities Co. Ltd. acquired a new position in Flex in the fourth quarter valued at $38,000. Jones Financial Companies Lllp raised its holdings in shares of Flex by 133.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,322 shares of the technology company’s stock worth $89,000 after purchasing an additional 1,327 shares during the period. Williamson Legacy Group LLC lifted its stake in shares of Flex by 8.6% in the 4th quarter. Williamson Legacy Group LLC now owns 26,540 shares of the technology company’s stock valued at $1,019,000 after purchasing an additional 2,104 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Flex during the 4th quarter worth about $585,000. Finally, Mutual of America Capital Management LLC acquired a new stake in Flex during the 4th quarter worth approximately $7,864,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Down 2.9 %

Shares of NASDAQ FLEX opened at $35.01 on Wednesday. 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 1 year low of $25.27 and a 1 year high of $45.10. The stock’s 50-day simple moving average is $40.94 and its 200-day simple moving average is $37.15. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.43 and a beta of 1.10.

Flex (NASDAQ:FLEX) last posted 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 return on equity of 17.93% and a net margin of 3.95%. As a group, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLEX. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Barclays increased their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Flex presently has an average rating of “Buy” and an average target price of $44.33.

Insider Buying and Selling at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

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.