Winnow Wealth LLC Makes New $1.06 Million Investment in Flex Ltd. $FLEX

Winnow Wealth LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 18,239 shares of the technology company’s stock, valued at approximately $1,058,000.

Several other hedge funds have also recently made changes to their positions in FLEX. Townsquare Capital LLC lifted its position in Flex by 8.7% during the 3rd quarter. Townsquare Capital LLC now owns 64,799 shares of the technology company’s stock worth $3,756,000 after acquiring an additional 5,209 shares during the period. Impact Partnership Wealth LLC purchased a new position in shares of Flex in the third quarter worth about $640,000. Archer Investment Corp lifted its holdings in shares of Flex by 12.2% during the third quarter. Archer Investment Corp now owns 3,421 shares of the technology company’s stock worth $198,000 after purchasing an additional 371 shares during the period. New York State Common Retirement Fund boosted its position in Flex by 3.9% in the third quarter. New York State Common Retirement Fund now owns 1,472,790 shares of the technology company’s stock valued at $85,378,000 after buying an additional 55,000 shares during the last quarter. Finally, JSF Financial LLC acquired a new position in Flex in the 3rd quarter worth approximately $1,190,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased their price objective on shares of Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Zacks Research lowered shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Finally, The Goldman Sachs Group raised their target price on Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and a consensus price target of $66.11.

Insider Buying and Selling

In related news, CFO Kevin Krumm sold 21,406 shares of Flex stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total value of $1,310,689.38. Following the sale, the chief financial officer owned 143,803 shares of the company’s stock, valued at approximately $8,805,057.69. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Wendler sold 10,000 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total transaction of $719,700.00. Following the transaction, the chief accounting officer directly owned 27,619 shares in the company, valued at approximately $1,987,739.43. The trade was a 26.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 101,406 shares of company stock valued at $6,129,539 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Flex Trading Down 3.7%

FLEX stock opened at $63.04 on Friday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $72.22. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The firm has a market cap of $23.31 billion, a P/E ratio of 27.89, a PEG ratio of 1.73 and a beta of 1.24. The company’s 50-day simple moving average is $63.22 and its 200-day simple moving average is $58.81.

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.