Retireful LLC Acquires Shares of 11,298 Flex Ltd. $FLEX

Retireful LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,298 shares of the technology company’s stock, valued at approximately $655,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FLEX. Norges Bank purchased a new position in Flex during the second quarter worth approximately $291,362,000. State Street Corp grew its stake in Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after acquiring an additional 3,377,669 shares during the period. Geode Capital Management LLC raised its position in Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after acquiring an additional 2,459,511 shares during the period. Pacer Advisors Inc. lifted its holdings in Flex by 5,973.9% during the third quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock valued at $79,132,000 after purchasing an additional 1,342,569 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Flex by 73.6% during the first quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company’s stock worth $91,888,000 after purchasing an additional 1,177,970 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Down 0.3%

FLEX stock opened at $63.33 on Monday. The firm has a market cap of $23.42 billion, a PE ratio of 28.02, a PEG ratio of 1.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. The firm’s 50 day moving average price is $62.42 and its 200-day moving average price is $56.37. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLEX shares. Argus set a $85.00 price target on Flex in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a report on Monday, December 22nd. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

Insider Activity

In related news, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $54.52, for a total value of $1,090,400.00. Following the sale, the director directly owned 98,073 shares in the company, valued at approximately $5,346,939.96. The trade was a 16.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $64.88, for a total transaction of $811,000.00. Following the transaction, the chief operating officer directly owned 251,136 shares of the company’s stock, valued at approximately $16,293,703.68. This trade represents a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 107,500 shares of company stock worth $6,593,750. 0.57% of the stock is currently owned by corporate insiders.

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.