U.S. Capital Wealth Advisors LLC Takes Position in Flex Ltd. (NASDAQ:FLEX)

U.S. Capital Wealth Advisors LLC bought a new stake in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,968 shares of the technology company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLEX. FMR LLC grew its stake in shares of Flex by 0.6% during the third quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after acquiring an additional 247,024 shares in the last quarter. LSV Asset Management grew its stake in Flex by 0.7% during the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock valued at $214,660,000 after purchasing an additional 51,068 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Flex by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after purchasing an additional 302,086 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Flex by 3.2% during the 3rd quarter. Earnest Partners LLC now owns 4,425,891 shares of the technology company’s stock valued at $119,411,000 after buying an additional 138,979 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Flex by 63.9% in the fourth quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock worth $73,817,000 after buying an additional 944,928 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In related news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Flex news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total value of $1,323,554.31. Following the completion of the transaction, the insider now directly owns 154,810 shares of the company’s stock, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock worth $4,055,311 in the last three months. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on FLEX shares. StockNews.com started coverage on shares of Flex in a report on Wednesday, March 6th. They set a “hold” rating for the company. Barclays boosted their price objective on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group increased their target price on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and lowered their price target for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Flex Stock Down 2.0 %

NASDAQ:FLEX opened at $28.56 on Thursday. The firm has a market capitalization of $12.03 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. Flex Ltd. has a 52 week low of $20.69 and a 52 week high of $30.93. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average of $28.52 and a 200-day moving average of $26.93.

Flex Company Profile

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.