Flex Ltd. $FLEX Stock Holdings Boosted by Sigma Planning Corp

Sigma Planning Corp boosted its position in Flex Ltd. (NASDAQ:FLEX) by 81.6% during the 1st quarter, HoldingsChannel reports. The firm owned 21,729 shares of the technology company’s stock after buying an additional 9,764 shares during the quarter. Sigma Planning Corp’s holdings in Flex were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

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

Flex Stock Down 1.5%

FLEX opened at $119.25 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The company has a market capitalization of $43.69 billion, a PE ratio of 51.18, a P/E/G ratio of 0.64 and a beta of 1.64. The stock’s fifty day moving average is $143.16 and its 200-day moving average is $95.78. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86.

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

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of analyst reports. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Barclays upped their price objective on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. The Goldman Sachs Group increased their target price on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research 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 report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $11,307,921.61. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 26,657 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the completion of the transaction, the chief operating officer owned 257,527 shares in the company, valued at approximately $37,207,500.96. This trade represents a 9.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 769,195 shares of company stock worth $110,116,823. 0.62% of the stock is currently owned by company insiders.

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.