27,504 Shares in Flex Ltd. $FLEX Acquired by University of Texas Texas AM Investment Management Co.

by · The Cerbat Gem

University of Texas Texas AM Investment Management Co. acquired a new stake in Flex Ltd. (NASDAQ:FLEX – Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 27,504 shares of the technology company’s stock, valued at approximately $1,662,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Flex during the 4th quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new stake in Flex during the 4th quarter worth $28,000. Parkside Financial Bank & Trust grew its stake in shares of Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the period. CENTRAL TRUST Co grew its holdings in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after purchasing an additional 355 shares during the period. Finally, Gables Capital Management Inc. acquired a new stake in Flex in the fourth quarter worth $42,000. Institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the topic of several recent analyst reports. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. The Goldman Sachs Group raised their price objective on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.70.

Read Our Latest Analysis on Flex

Insider Activity

In other Flex news, CEO Revathi Advaithi sold 83,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00. Following the sale, the chief executive officer owned 605,522 shares of the company’s stock, valued at approximately $80,455,708.14. This trade represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 17,500 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total value of $2,378,775.00. Following the transaction, the chief operating officer directly owned 238,543 shares of the company’s stock, valued at $32,425,149.99. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 345,012 shares of company stock valued at $48,508,103. Corporate insiders own 0.57% of the company’s stock.

Flex Stock Performance

Shares of FLEX stock opened at $149.22 on Tuesday. The company has a fifty day moving average price of $117.49 and a two-hundred day moving average price of $82.73. Flex Ltd. has a one year low of $43.15 and a one year high of $166.86. The stock has a market cap of $54.67 billion, a P/E ratio of 64.04, a P/E/G ratio of 0.79 and a beta of 1.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

Flex (NASDAQ:FLEX – Get Free Report) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion for the quarter. As a group, equities analysts predict that Flex Ltd. will post 4.15 EPS for the current year.

Flex Company Profile

(Free Report)

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.

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