7,000 Shares in Flex Ltd. $FLEX Acquired by Satovsky Asset Management LLC

Satovsky Asset Management LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, Holdings Channel reports. The fund bought 7,000 shares of the technology company’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLEX. Brighton Jones LLC bought a new stake in Flex during the 4th quarter worth approximately $260,000. Goldman Sachs Group Inc. increased its holdings in Flex by 19.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after acquiring an additional 211,046 shares during the period. Empowered Funds LLC bought a new stake in Flex during the 1st quarter worth approximately $397,000. EverSource Wealth Advisors LLC increased its holdings in Flex by 63.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,031 shares during the period. Finally, First Trust Advisors LP increased its holdings in Flex by 92.4% during the 2nd quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after acquiring an additional 29,821 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In other news, CEO Revathi Advaithi sold 83,500 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the sale, the chief executive officer owned 605,522 shares of the company’s stock, valued at approximately $80,455,708.14. This represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Scott Offer sold 33,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at $11,307,921.61. This trade represents a 30.99% decrease in their position. 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 have sold 345,012 shares of company stock worth $48,508,103 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FLEX. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. KeyCorp boosted their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Barclays boosted their price target on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Price Performance

FLEX stock opened at $149.71 on Monday. 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 one year low of $42.83 and a one year high of $166.86. The stock has a market cap of $54.85 billion, a PE ratio of 64.25, a P/E/G ratio of 0.79 and a beta of 1.63. The firm has a 50 day simple moving average of $115.87 and a two-hundred day simple moving average of $82.08.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 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. On average, analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

About Flex

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.