Parcion Private Wealth LLC Invests $452,000 in Flex Ltd. (NASDAQ:FLEX)

Parcion Private Wealth LLC purchased a new position in Flex Ltd. (NASDAQ:FLEX) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,515 shares of the technology company’s stock, valued at approximately $452,000.

Other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC acquired a new stake in Flex during the third quarter valued at approximately $228,000. Mount Yale Investment Advisors LLC lifted its stake in Flex by 12.8% during the third quarter. Mount Yale Investment Advisors LLC now owns 17,686 shares of the technology company’s stock valued at $591,000 after purchasing an additional 2,008 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Flex by 4.3% during the third quarter. Assenagon Asset Management S.A. now owns 74,508 shares of the technology company’s stock valued at $2,491,000 after purchasing an additional 3,074 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Flex by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 94,728 shares of the technology company’s stock valued at $3,167,000 after purchasing an additional 2,573 shares during the last quarter. Finally, Graybill Wealth Management LTD. lifted its stake in Flex by 1.6% during the third quarter. Graybill Wealth Management LTD. now owns 200,535 shares of the technology company’s stock valued at $6,704,000 after purchasing an additional 3,169 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now directly owns 168,094 shares in the company, valued at approximately $5,377,327.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now owns 175,468 shares in the company, valued at approximately $5,576,373.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock worth $904,530 in the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and increased their target price for the stock from $27.00 to $39.00 in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $39.17.

Flex Stock Performance

NASDAQ:FLEX opened at $35.21 on Friday. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $35.84. The firm’s fifty day simple moving average is $32.49 and its 200 day simple moving average is $30.97. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $13.98 billion, a PE ratio of 15.79, a PEG ratio of 2.01 and a beta of 1.09.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. Flex had a net margin of 3.54% and a return on equity of 16.23%. On average, sell-side analysts anticipate that Flex Ltd. will post 2.06 EPS for the current year.

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.