Segall Bryant & Hamill LLC Takes $446,000 Position in Flex Ltd. $FLEX

Segall Bryant & Hamill LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,034 shares of the technology company’s stock, valued at approximately $446,000.

Other large investors also recently bought and sold shares of the company. JSF Financial LLC grew its position in Flex by 0.6% during the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after purchasing an additional 115 shares during the last quarter. Glenview Trust Co grew its holdings in Flex by 3.4% during the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after acquiring an additional 125 shares during the period. Resonant Capital Advisors LLC grew its stake in shares of Flex by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock worth $522,000 after purchasing an additional 163 shares during the period. Parkside Financial Bank & Trust increased its holdings in Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after buying an additional 166 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Flex by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock valued at $159,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FLEX shares. JPMorgan Chase & Co. increased their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. KeyCorp upped their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. Barclays decreased their price target on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $142.00 price objective on shares of Flex in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $114.20.

Flex Stock Performance

FLEX stock opened at $122.65 on Friday. The company has a 50-day simple moving average of $137.96 and a 200 day simple moving average of $101.60. The company has a market capitalization of $45.31 billion, a P/E ratio of 47.36, a PEG ratio of 0.62 and a beta of 1.67. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95.

Flex (NASDAQ:FLEX) last released its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%.The firm had revenue of $7.93 billion for the quarter. Sell-side analysts predict that Flex Ltd. will post 4.27 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David Scott Offer sold 6,657 shares of Flex stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.23, for a total value of $966,796.11. Following the transaction, the executive vice president directly owned 91,122 shares in the company, valued at approximately $13,233,648.06. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.20, for a total value of $190,357.20. Following the completion of the transaction, the chief accounting officer directly owned 37,932 shares in the company, valued at approximately $5,507,726.40. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 754,195 shares of company stock valued at $108,044,723. 0.62% of the stock is currently owned by company insiders.

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.