Copley Financial Group Inc. Makes New $388,000 Investment in Flex Ltd. $FLEX

Copley Financial Group Inc. bought a new stake in Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,423 shares of the technology company’s stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. Norges Bank bought a new stake in Flex during the fourth quarter worth $319,756,000. State Street Corp boosted its holdings in shares of Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Flex by 694,916.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after purchasing an additional 2,640,682 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its stake in shares of Flex by 141.8% in the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FLEX shares. Stifel Nicolaus upped their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note 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 raised their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Flex Trading Down 1.5%

Shares of FLEX stock opened at $146.93 on Wednesday. Flex Ltd. has a twelve month low of $43.62 and a twelve month high of $166.86. The stock’s fifty day simple moving average is $119.05 and its 200 day simple moving average is $83.35. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $53.83 billion, a P/E ratio of 63.06, a P/E/G ratio of 0.79 and a beta of 1.64.

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

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 22,216 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $142.38, for a total value of $3,163,114.08. Following the completion of the transaction, the insider directly owned 232,706 shares in the company, valued at approximately $33,132,680.28. This represents a 8.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,175 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $3,726,534.75. Following the transaction, the chief operating officer directly owned 256,043 shares of the company’s stock, valued at $36,452,841.91. The trade was a 9.27% 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. Insiders have sold 345,012 shares of company stock worth $48,508,103 over the last quarter. 0.57% of the stock is currently owned by corporate 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.