Coldstream Capital Management Inc. Makes New $352,000 Investment in Flex Ltd. (NASDAQ:FLEX)

Coldstream Capital Management Inc. acquired a new position in Flex Ltd. (NASDAQ:FLEXFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,562 shares of the technology company’s stock, valued at approximately $352,000.

A number of other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Flex by 3.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock worth $368,000 after acquiring an additional 497 shares during the period. Wahed Invest LLC lifted its position in shares of Flex by 8.1% during the 3rd quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock worth $191,000 after buying an additional 530 shares during the period. Veracity Capital LLC lifted its position in shares of Flex by 7.8% during the 4th quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock worth $251,000 after buying an additional 599 shares during the period. Global Retirement Partners LLC lifted its position in shares of Flex by 8.4% during the 4th quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock worth $266,000 after buying an additional 679 shares during the period. Finally, Rehmann Capital Advisory Group lifted its position in shares of Flex by 5.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 13,447 shares of the technology company’s stock worth $363,000 after buying an additional 717 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In related news, insider Michael P. Hartung sold 43,381 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the sale, the insider now owns 154,810 shares of the company’s stock, valued at approximately $4,723,253.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Michael P. Hartung sold 43,381 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Revathi Advaithi sold 161,052 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total value of $4,614,139.80. Following the transaction, the chief executive officer now directly owns 1,903,404 shares of the company’s stock, valued at $54,532,524.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,776 shares of company stock valued at $8,876,689. 0.56% of the stock is currently owned by corporate insiders.

Flex Stock Performance

Shares of NASDAQ FLEX traded up $0.99 during trading hours on Friday, reaching $33.17. 4,832,978 shares of the stock were exchanged, compared to its average volume of 5,068,777. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 1.52. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $33.33. The stock’s fifty day simple moving average is $28.71 and its 200 day simple moving average is $27.31.

Flex (NASDAQ:FLEXGet Free Report) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. Sell-side analysts predict that Flex Ltd. will post 2.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLEX. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Tuesday. Craig Hallum cut Flex from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. The Goldman Sachs Group raised their price target on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. Barclays lifted their target price on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Check Out Our Latest Analysis on FLEX

About Flex

(Free Report)

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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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