Raymond James Financial Inc. Acquires New Holdings in Flex Ltd. (NASDAQ:FLEX)

Raymond James Financial Inc. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 841,172 shares of the technology company’s stock, valued at approximately $32,293,000. Raymond James Financial Inc. owned approximately 0.22% of Flex as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in Flex by 0.4% during the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock worth $4,424,000 after buying an additional 403 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Flex in the 4th quarter valued at about $5,552,000. J.Safra Asset Management Corp increased its holdings in shares of 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 period. State of Michigan Retirement System acquired a new position in shares of Flex in the 4th quarter valued at about $3,524,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Flex by 149.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,307 shares of the technology company’s stock valued at $165,000 after purchasing an additional 2,582 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FLEX has been the topic of a number of research reports. Barclays upped their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.33.

Flex Stock Down 2.0 %

FLEX opened at $33.61 on Friday. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 2.43 and a beta of 1.07. The business has a 50 day moving average of $40.30 and a 200-day moving average of $37.19.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director now 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 disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

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.