Csenge Advisory Group Has $222,000 Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Csenge Advisory Group decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 31.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,769 shares of the technology company’s stock after selling 3,608 shares during the period. Csenge Advisory Group’s holdings in Flex were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. boosted its position in Flex by 11.2% in the third quarter. American Century Companies Inc. now owns 160,097 shares of the technology company’s stock valued at $4,319,000 after buying an additional 16,170 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Flex in the third quarter valued at approximately $251,000. Vanguard Group Inc. boosted its position in Flex by 5.7% in the third quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after buying an additional 302,086 shares in the last quarter. Optimum Investment Advisors acquired a new stake in Flex in the fourth quarter valued at approximately $79,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Flex in the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $30.12 on Friday. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $34.12. The firm has a fifty day simple moving average of $30.77 and a 200 day simple moving average of $28.40. The company has a market capitalization of $12.01 billion, a PE ratio of 13.10, a P/E/G ratio of 2.00 and a beta of 1.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Flex had a net margin of 3.58% and a return on equity of 16.46%. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.10 billion. On average, sell-side analysts forecast that Flex Ltd. will post 2.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FLEX. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Barclays raised their price target on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.20.

Insiders Place Their Bets

In other Flex news, CEO Revathi Advaithi sold 161,052 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the completion of the sale, the chief executive officer now directly owns 1,903,404 shares in the company, valued at $54,532,524.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, CEO Revathi Advaithi sold 161,052 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the completion of the sale, the chief executive officer now directly owns 1,903,404 shares in the company, valued at $54,532,524.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Capellas sold 78,872 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total transaction of $2,653,254.08. Following the completion of the sale, the director now owns 219,037 shares of the company’s stock, valued at $7,368,404.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 804,542 shares of company stock worth $25,147,972. 0.82% of the stock is currently owned by company insiders.

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.