3,912 Shares in Flex Ltd. $FLEX Acquired by Darwin Wealth Management LLC

Darwin Wealth Management LLC acquired a new stake in Flex Ltd. (NASDAQ:FLEX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,912 shares of the technology company’s stock, valued at approximately $256,000.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLEX. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Barclays increased their target price on 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 boosted their price target on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, KeyCorp lifted their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $115.70.

Insider Activity

In related news, EVP David Scott Offer sold 33,000 shares of Flex stock in a transaction dated 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 transaction, the executive vice president directly owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. The trade was a 30.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,627 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the transaction, the insider owned 253,199 shares in the company, valued at $36,582,191.52. The trade was a 8.20% 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. Insiders sold 769,195 shares of company stock valued at $110,116,823 over the last ninety days. 0.62% of the stock is owned by corporate insiders.

Flex Trading Down 3.0%

NASDAQ:FLEX opened at $135.80 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $142.50 and its 200 day moving average is $93.60. Flex Ltd. has a 12 month low of $47.83 and a 12 month high of $166.86. The stock has a market capitalization of $49.75 billion, a PE ratio of 58.28, a price-to-earnings-growth ratio of 0.74 and a beta of 1.64.

Flex (NASDAQ:FLEX) last released its quarterly earnings data 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. Sell-side analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.

Flex Company 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.