Wintrust Investments LLC Buys Shares of 8,650 Flex Ltd. (NASDAQ:FLEX)

Wintrust Investments LLC bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 8,650 shares of the technology company’s stock, valued at approximately $239,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Flex by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 363,665 shares of the technology company’s stock worth $6,745,000 after purchasing an additional 33,349 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Flex by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 590,073 shares of the technology company’s stock worth $10,946,000 after purchasing an additional 44,642 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Flex by 14.1% during the 1st quarter. American Century Companies Inc. now owns 130,278 shares of the technology company’s stock worth $2,417,000 after purchasing an additional 16,073 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Flex by 1.0% during the 1st quarter. HighTower Advisors LLC now owns 86,350 shares of the technology company’s stock worth $1,600,000 after purchasing an additional 853 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new stake in shares of Flex during the 1st quarter worth about $201,000. 95.26% of the stock is currently owned by hedge funds and other institutional investors.

Flex Trading Down 0.5 %

Shares of FLEX stock opened at $26.25 on Friday. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.99 and a beta of 1.30. The firm’s 50 day moving average price is $25.87 and its two-hundred day moving average price is $26.01. Flex Ltd. has a fifty-two week low of $19.44 and a fifty-two week high of $28.90. The company has a quick ratio of 0.82, a current ratio of 1.53 and a debt-to-equity ratio of 0.54.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $7.47 billion for the quarter, compared to analyst estimates of $7.52 billion. Flex had a net margin of 2.62% and a return on equity of 16.86%. On average, analysts anticipate that Flex Ltd. will post 2.19 EPS for the current year.

Insider Activity

In other news, EVP David Scott Offer sold 150,000 shares of Flex stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $25.82, for a total transaction of $3,873,000.00. Following the sale, the executive vice president now owns 237,094 shares in the company, valued at $6,121,767.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Paul Lundstrom sold 53,517 shares of Flex stock in a transaction on Monday, September 18th. The shares were sold at an average price of $25.72, for a total value of $1,376,457.24. Following the completion of the sale, the chief financial officer now owns 431,350 shares in the company, valued at $11,094,322. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Scott Offer sold 150,000 shares of Flex stock in a transaction on Monday, October 30th. The stock was sold at an average price of $25.82, for a total transaction of $3,873,000.00. Following the completion of the sale, the executive vice president now owns 237,094 shares of the company’s stock, valued at approximately $6,121,767.08. The disclosure for this sale can be found here. Insiders have sold 213,017 shares of company stock worth $5,493,037 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of several analyst reports. Barclays assumed coverage on shares of Flex in a research note on Thursday, September 7th. They set an “overweight” rating and a $35.00 price target on the stock. StockNews.com started coverage on shares of Flex in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $34.00 price target on shares of Flex in a research report on Monday, July 24th.

About Flex

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.