Park Avenue Securities LLC Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

Park Avenue Securities LLC boosted its position in shares of Flex Ltd. (NASDAQ:FLEXGet Rating) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,858 shares of the technology company’s stock after acquiring an additional 1,442 shares during the quarter. Park Avenue Securities LLC’s holdings in Flex were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FLEX. JPMorgan Chase & Co. increased its position in Flex by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 363,665 shares of the technology company’s stock valued at $6,745,000 after acquiring an additional 33,349 shares during the last quarter. Bank of New York Mellon Corp increased its position in Flex by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 590,073 shares of the technology company’s stock valued at $10,946,000 after acquiring an additional 44,642 shares during the last quarter. American Century Companies Inc. increased its position in Flex by 14.1% during the first quarter. American Century Companies Inc. now owns 130,278 shares of the technology company’s stock valued at $2,417,000 after acquiring an additional 16,073 shares during the last quarter. HighTower Advisors LLC increased its position in Flex by 1.0% during the first quarter. HighTower Advisors LLC now owns 86,350 shares of the technology company’s stock valued at $1,600,000 after acquiring an additional 853 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in Flex during the first quarter valued at $201,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 3,744 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $20.03, for a total value of $74,992.32. Following the completion of the transaction, the insider now owns 139,361 shares of the company’s stock, valued at $2,791,400.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Michael P. Hartung sold 3,744 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $20.03, for a total value of $74,992.32. Following the completion of the transaction, the insider now owns 139,361 shares of the company’s stock, valued at $2,791,400.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 44,898 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $19.66, for a total value of $882,694.68. Following the completion of the transaction, the insider now directly owns 143,105 shares of the company’s stock, valued at approximately $2,813,444.30. The disclosure for this sale can be found here. Insiders sold a total of 84,730 shares of company stock valued at $1,734,074 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th.

Flex Stock Performance

NASDAQ:FLEX opened at $24.42 on Tuesday. The stock has a 50-day simple moving average of $21.89 and a two-hundred day simple moving average of $19.09. Flex Ltd. has a 52-week low of $13.63 and a 52-week high of $25.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.65 and a current ratio of 1.29. The firm has a market capitalization of $11.06 billion, a PE ratio of 14.03, a P/E/G ratio of 1.07 and a beta of 1.45.

Flex (NASDAQ:FLEXGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.20 billion. Flex had a return on equity of 20.33% and a net margin of 2.85%. Analysts forecast that Flex Ltd. will post 1.77 EPS for the current year.

Flex Company Profile

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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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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