Wealth Enhancement Advisory Services LLC Acquires 1,945 Shares of Flex Ltd. (NASDAQ:FLEX)

Wealth Enhancement Advisory Services LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,895 shares of the technology company’s stock after acquiring an additional 1,945 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Flex were worth $1,877,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Merewether Investment Management LP bought a new stake in Flex in the 2nd quarter worth about $72,808,000. Charles Schwab Investment Management Inc. increased its stake in Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after buying an additional 2,170,262 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after buying an additional 792,700 shares in the last quarter. Finally, Simcoe Capital Management LLC purchased a new position in shares of Flex in the 3rd quarter worth approximately $22,075,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLEX. Stifel Nicolaus increased their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Barclays raised their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flex presently has a consensus rating of “Buy” and an average price target of $42.67.

Flex Stock Performance

NASDAQ:FLEX opened at $40.18 on Wednesday. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $44.45. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The business has a 50 day moving average of $39.03 and a 200 day moving average of $34.35. The company has a market capitalization of $15.58 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.44 and a beta of 1.10.

Insider Transactions at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the sale, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Flex Company 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.