Entropy Technologies LP Has $5.31 Million Stock Position in Flex Ltd. $FLEX

Entropy Technologies LP grew its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 50.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,883 shares of the technology company’s stock after purchasing an additional 29,336 shares during the quarter. Entropy Technologies LP’s holdings in Flex were worth $5,310,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its position in shares of Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Flex by 5.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after purchasing an additional 181 shares during the last quarter. Parcion Private Wealth LLC increased its position in shares of Flex by 1.5% during the 4th quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock worth $855,000 after purchasing an additional 216 shares during the last quarter. US Bancorp DE increased its position in shares of Flex by 1.2% during the 3rd quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 225 shares during the last quarter. Finally, Tower Wealth Partners Inc. increased its position in shares of Flex by 3.7% during the 3rd quarter. Tower Wealth Partners Inc. now owns 6,980 shares of the technology company’s stock worth $405,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

FLEX has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. The Goldman Sachs Group boosted their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. Finally, Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the completion of the sale, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. The trade was a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 83,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the sale, the chief executive officer owned 605,522 shares of the company’s stock, valued at $80,455,708.14. This trade represents a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 345,012 shares of company stock worth $48,508,103 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

Flex Stock Down 1.5%

FLEX stock opened at $149.71 on Friday. The business’s 50 day simple moving average is $115.87 and its 200 day simple moving average is $81.91. The firm has a market capitalization of $54.85 billion, a PE ratio of 64.25, a PEG ratio of 0.79 and a beta of 1.64. Flex Ltd. has a 1-year low of $42.83 and a 1-year high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, research analysts anticipate that Flex Ltd. will post 4.15 EPS for the current year.

Flex 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.