Parcion Private Wealth LLC Has $695,000 Stake in Flex Ltd. $FLEX

Parcion Private Wealth LLC raised its position in Flex Ltd. (NASDAQ:FLEX) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,913 shares of the technology company’s stock after purchasing an additional 576 shares during the period. Parcion Private Wealth LLC’s holdings in Flex were worth $695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concord Wealth Partners acquired a new stake in shares of Flex in the 2nd quarter valued at about $28,000. Harbour Investments Inc. raised its stake in shares of Flex by 74.7% in the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after purchasing an additional 301 shares during the period. Rise Advisors LLC acquired a new stake in shares of Flex in the 1st quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Flex in the first quarter valued at about $26,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Flex in the first quarter valued at about $26,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $61.33 on Thursday. The business’s 50 day moving average price is $56.47 and its two-hundred day moving average price is $47.81. The company has a market cap of $23.02 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $64.29.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group set a $66.00 target price on Flex in a research report on Monday, September 29th. KGI Securities downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Flex from $44.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Barclays lifted their target price on Flex from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Flex presently has a consensus rating of “Moderate Buy” and an average target price of $59.71.

Insider Activity

In other news, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total transaction of $514,700.00. Following the transaction, the director owned 17,012 shares in the company, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the sale, the chief accounting officer owned 37,619 shares of the company’s stock, valued at $2,131,492.54. This trade represents a 21.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,020 shares of company stock valued at $4,923,667. 0.57% of the stock is owned by insiders.

Flex Profile

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.