Willingdon Wealth Management increased its position in shares of Flex Ltd (NASDAQ:FLEX) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,914 shares of the technology company’s stock after acquiring an additional 21,399 shares during the quarter. Willingdon Wealth Management owned about 0.05% of Flex worth $3,502,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FLEX. Point View Wealth Management Inc. increased its stake in Flex by 10.3% during the 2nd quarter. Point View Wealth Management Inc. now owns 40,712 shares of the technology company’s stock valued at $574,000 after purchasing an additional 3,789 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Flex by 4.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 107,032 shares of the technology company’s stock valued at $1,510,000 after purchasing an additional 4,165 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Flex by 8.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 55,377 shares of the technology company’s stock valued at $781,000 after purchasing an additional 4,245 shares in the last quarter. Independent Advisor Alliance increased its stake in Flex by 12.5% during the 2nd quarter. Independent Advisor Alliance now owns 38,745 shares of the technology company’s stock valued at $542,000 after purchasing an additional 4,299 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Flex by 30.7% during the 2nd quarter. Jane Street Group LLC now owns 18,324 shares of the technology company’s stock valued at $259,000 after purchasing an additional 4,304 shares in the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.
In related news, insider Francois Barbier sold 70,278 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $14.03, for a total transaction of $986,000.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Scott Offer purchased 27,027 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were purchased at an average cost of $7.48 per share, for a total transaction of $202,161.96. The disclosure for this purchase can be found here. Insiders have sold 70,678 shares of company stock worth $991,332 over the last three months. 0.88% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on FLEX shares. Goldman Sachs Group lowered shares of Flex from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. Macquarie set a $9.00 price objective on shares of Flex and gave the stock a “hold” rating in a research note on Monday. Argus lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, ValuEngine lowered shares of Flex from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.94.
Shares of NASDAQ:FLEX traded down $0.11 during midday trading on Friday, reaching $8.48. The company’s stock had a trading volume of 1,712,132 shares, compared to its average volume of 10,595,493. The firm has a market capitalization of $4.10 billion, a P/E ratio of 10.60, a PEG ratio of 0.90 and a beta of 0.87. Flex Ltd has a twelve month low of $6.74 and a twelve month high of $19.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.24 and a quick ratio of 0.73.
Flex (NASDAQ:FLEX) last released its quarterly earnings data on Thursday, October 25th. The technology company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The firm had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.81 billion. Flex had a net margin of 1.15% and a return on equity of 9.94%. Equities analysts anticipate that Flex Ltd will post 0.82 EPS for the current fiscal year.
Flex announced that its Board of Directors has initiated a share buyback program on Tuesday, August 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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