Comerica Bank Acquires 947 Shares of Flex Ltd. (NASDAQ:FLEX)

Comerica Bank lifted its holdings in shares of Flex Ltd. (NASDAQ:FLEXGet Rating) by 5.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 18,698 shares of the technology company’s stock after acquiring an additional 947 shares during the period. Comerica Bank’s holdings in Flex were worth $329,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FLEX. Millennium Management LLC increased its position in shares of Flex by 322.7% during the 4th quarter. Millennium Management LLC now owns 5,603,500 shares of the technology company’s stock worth $102,712,000 after purchasing an additional 4,277,817 shares in the last quarter. Invesco Ltd. increased its position in shares of Flex by 200.3% during the 4th quarter. Invesco Ltd. now owns 4,810,396 shares of the technology company’s stock worth $88,175,000 after purchasing an additional 3,208,637 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Flex by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 19,581,382 shares of the technology company’s stock worth $358,927,000 after purchasing an additional 2,124,940 shares in the last quarter. Nishkama Capital LLC increased its position in Flex by 72.3% in the 4th quarter. Nishkama Capital LLC now owns 4,215,713 shares of the technology company’s stock valued at $77,274,000 after acquiring an additional 1,768,500 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Flex by 60.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,146,863 shares of the technology company’s stock valued at $76,012,000 after acquiring an additional 1,567,881 shares in the last quarter. Institutional investors and hedge funds own 95.95% of the company’s stock.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 5,329 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $15.67, for a total transaction of $83,505.43. Following the sale, the insider now owns 161,531 shares of the company’s stock, valued at $2,531,190.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP David Scott Offer sold 6,655 shares of the company’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $14.59, for a total value of $97,096.45. Following the sale, the executive vice president now owns 262,920 shares in the company, valued at approximately $3,836,002.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 5,329 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $15.67, for a total transaction of $83,505.43. Following the completion of the sale, the insider now owns 161,531 shares of the company’s stock, valued at approximately $2,531,190.77. The disclosure for this sale can be found here. Insiders have sold a total of 637,237 shares of company stock valued at $9,633,019 over the last 90 days. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Flex from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Argus raised shares of Flex from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, May 18th. Finally, StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Friday.

Flex Trading Up 2.4 %

Shares of Flex stock opened at $16.80 on Monday. The firm has a 50-day moving average of $15.51 and a 200-day moving average of $16.35. The stock has a market cap of $7.67 billion, a PE ratio of 8.66, a PEG ratio of 0.56 and a beta of 1.51. Flex Ltd. has a 52-week low of $13.63 and a 52-week high of $19.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.34.

Flex (NASDAQ:FLEXGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Flex had a net margin of 3.60% and a return on equity of 25.31%. Flex’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. As a group, sell-side analysts forecast that Flex Ltd. will post 1.83 EPS for the current year.

Flex Profile

(Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

See Also

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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