Global Retirement Partners LLC boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 58.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,826 shares of the technology company’s stock after acquiring an additional 3,615 shares during the quarter. Global Retirement Partners LLC’s holdings in Flex were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Atticus Wealth Management LLC purchased a new position in shares of Flex during the 1st quarter worth approximately $27,000. Motco purchased a new position in shares of Flex during the 4th quarter worth approximately $27,000. Exchange Traded Concepts LLC purchased a new position in shares of Flex during the 4th quarter worth approximately $29,000. Dark Forest Capital Management LP purchased a new position in shares of Flex during the 4th quarter worth approximately $36,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Flex during the 4th quarter worth approximately $36,000. 94.74% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Flex
In other Flex news, CAO Daniel Wendler sold 1,241 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $26.07, for a total transaction of $32,352.87. Following the sale, the chief accounting officer now owns 17,025 shares in the company, valued at approximately $443,841.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Daniel Wendler sold 1,241 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $26.07, for a total transaction of $32,352.87. Following the sale, the chief accounting officer now owns 17,025 shares in the company, valued at $443,841.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Revathi Advaithi sold 240,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.29, for a total value of $6,549,600.00. Following the sale, the chief executive officer now owns 1,585,268 shares in the company, valued at approximately $43,261,963.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 775,934 shares of company stock worth $20,686,303. 0.56% of the stock is owned by insiders.
Flex Stock Performance
Flex (NASDAQ:FLEX – Get Free Report) last announced its earnings results on Wednesday, May 10th. The technology company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $7.18 billion. Flex had a return on equity of 17.98% and a net margin of 2.60%. Sell-side analysts expect that Flex Ltd. will post 2.09 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on FLEX shares. Bank of America increased their target price on Flex from $28.00 to $31.00 in a research note on Sunday, July 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Flex in a research note on Monday, July 24th. Finally, StockNews.com began coverage on Flex in a research note on Thursday, May 18th. They issued a “hold” rating for the company.
Check Out Our Latest Stock Analysis on Flex
About Flex
Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.
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