Cetera Trust Company N.A Buys New Shares in Flex Ltd. (NASDAQ:FLEX)

Cetera Trust Company N.A acquired a new position in Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,000 shares of the technology company’s stock, valued at approximately $305,000.

A number of other large investors have also recently made changes to their positions in FLEX. Troluce Capital Advisors LLC increased its stake in Flex by 101.2% in the 3rd quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock worth $14,858,000 after buying an additional 48,097,992 shares in the last quarter. Invesco Ltd. grew its position in shares of Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after purchasing an additional 5,741,044 shares in the last quarter. Norges Bank bought a new stake in Flex during the 4th quarter valued at approximately $103,178,000. Millennium Management LLC raised its stake in Flex by 156.8% during the 4th quarter. Millennium Management LLC now owns 5,047,486 shares of the technology company’s stock valued at $108,319,000 after purchasing an additional 3,081,799 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Flex by 580,549.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,525,823 shares of the technology company’s stock worth $69,814,000 after purchasing an additional 2,525,388 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Flex

In other Flex news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the transaction, the executive vice president now directly owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rebecca Sidelinger sold 13,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total value of $382,763.25. Following the completion of the sale, the insider now directly owns 161,913 shares of the company’s stock, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,943 shares of company stock worth $4,055,311. Insiders own 0.56% of the company’s stock.

Flex Price Performance

Flex stock opened at $27.07 on Monday. Flex Ltd. has a 52-week low of $19.44 and a 52-week high of $30.93. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $28.40 and its 200 day moving average is $26.72. The company has a market cap of $11.40 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.69 and a beta of 1.20.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.73 billion. Sell-side analysts forecast that Flex Ltd. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FLEX shares. The Goldman Sachs Group lifted their price objective on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

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.