Flex Ltd. $FLEX Stock Holdings Raised by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 520.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 28,558 shares of the technology company’s stock after buying an additional 23,953 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Flex were worth $1,869,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Flex by 196.1% during 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 buying an additional 25,662,586 shares in the last quarter. Norges Bank acquired a new position in shares of Flex in the 4th quarter worth approximately $319,756,000. State Street Corp increased 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 acquiring an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Flex by 694,916.3% during the fourth 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 worth $159,573,000 after purchasing an additional 2,640,682 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its stake in Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of FLEX stock opened at $136.85 on Monday. Flex Ltd. has a 12-month low of $47.83 and a 12-month high of $166.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The firm has a market capitalization of $50.14 billion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64. The business has a 50 day simple moving average of $137.84 and a 200 day simple moving average of $91.27.

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 firm had revenue of $7.48 billion for the quarter. On average, equities research analysts anticipate that Flex Ltd. will post 4.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLEX. Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Barclays raised their target price on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 1,311 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.20, for a total transaction of $190,357.20. Following the sale, the chief accounting officer directly owned 37,932 shares in the company, valued at approximately $5,507,726.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 7,269 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the completion of the sale, the insider directly owned 245,930 shares of the company’s stock, valued at approximately $35,713,954.60. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 769,195 shares of company stock valued at $110,116,823. Corporate insiders own 0.62% of the company’s stock.

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.