Peak Retirement Planning Inc. Has $2.78 Million Position in Flex Ltd. $FLEX

Peak Retirement Planning Inc. lifted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,962 shares of the technology company’s stock after purchasing an additional 5,553 shares during the quarter. Peak Retirement Planning Inc.’s holdings in Flex were worth $2,777,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Flex by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock valued at $138,749,000 after purchasing an additional 360,553 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Flex in the fourth quarter valued at about $2,497,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Flex by 12.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock valued at $10,469,000 after purchasing an additional 19,270 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Flex by 62.3% in the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock valued at $20,566,000 after purchasing an additional 130,641 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $159.43 on Wednesday. The stock has a market capitalization of $58.41 billion, a price-to-earnings ratio of 68.43, a PEG ratio of 0.78 and a beta of 1.64. The business has a 50-day moving average of $100.23 and a 200-day moving average of $76.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a fifty-two week low of $42.31 and a fifty-two week high of $159.86.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The business had revenue of $7.48 billion during the quarter. As a group, sell-side analysts predict that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. KeyCorp boosted their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. Finally, Raymond James Financial set a $80.00 price target on Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 22,212 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.40, for a total value of $3,162,988.80. Following the completion of the sale, the executive vice president directly owned 74,926 shares in the company, valued at approximately $10,669,462.40. This trade represents a 22.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the completion of the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at $32,425,149.99. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 329,512 shares of company stock worth $44,459,298 in the last three months. Insiders own 0.57% of the company’s stock.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.