Sanctuary Advisors LLC Takes $2.12 Million Position in Flex Ltd. (NASDAQ:FLEX)

Sanctuary Advisors LLC acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,255 shares of the technology company’s stock, valued at approximately $2,122,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLEX. KBC Group NV bought a new position in shares of Flex during the fourth quarter valued at about $231,000. Public Employees Retirement Association of Colorado raised its stake in shares of Flex by 522.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 51,637 shares of the technology company’s stock valued at $1,573,000 after acquiring an additional 43,346 shares during the last quarter. Prudential PLC bought a new position in shares of Flex during the fourth quarter valued at about $460,000. Personal CFO Solutions LLC bought a new position in Flex in the fourth quarter worth about $359,000. Finally, Oribel Capital Management LP raised its stake in Flex by 212.9% in the fourth quarter. Oribel Capital Management LP now owns 547,600 shares of the technology company’s stock worth $16,680,000 after buying an additional 372,600 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Trading Up 0.5 %

NASDAQ FLEX opened at $33.65 on Tuesday. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.42. The stock has a market cap of $13.42 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.92 and a beta of 1.09. The stock’s fifty day moving average price is $31.21 and its 200-day moving average price is $30.41. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. As a group, equities analysts forecast that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Insider Activity

In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the transaction, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the sale, the executive vice president now owns 158,094 shares in the company, valued at approximately $5,209,197.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the sale, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,028 shares of company stock valued at $904,530 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FLEX. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Barclays increased their price target on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and increased their price target for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and an average target price of $38.40.

About Flex

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.