Lido Advisors LLC Boosts Holdings in Flex Ltd. $FLEX

Lido Advisors LLC lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 347.8% in the first quarter, HoldingsChannel reports. The firm owned 46,164 shares of the technology company’s stock after buying an additional 35,854 shares during the quarter. Lido Advisors LLC’s holdings in Flex were worth $3,022,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in Flex in the 4th quarter valued at approximately $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Flex in the fourth quarter worth $28,000. Parkside Financial Bank & Trust increased its position 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 acquiring an additional 166 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Flex in the fourth quarter valued at $42,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Flex by 6,318.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after acquiring an additional 695 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Down 7.4%

FLEX stock opened at $118.51 on Friday. The stock has a market cap of $43.42 billion, a P/E ratio of 50.86, a PEG ratio of 0.62 and a beta of 1.64. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86. The company’s 50 day moving average is $141.37 and its two-hundred day moving average is $97.96.

Flex (NASDAQ:FLEX) 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 business had revenue of $7.48 billion during the quarter. Research analysts expect that Flex Ltd. will post 4.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on FLEX. JPMorgan Chase & Co. boosted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Insider Transactions at Flex

In other news, COO Kwang Hooi Tan sold 26,657 shares of Flex stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the sale, the chief operating officer owned 257,527 shares in the company, valued at approximately $37,207,500.96. The trade was a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 197,879 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total value of $28,557,897.28. Following the completion of the sale, the chief executive officer directly owned 623,466 shares of the company’s stock, valued at $89,978,613.12. The trade was a 24.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 769,195 shares of company stock worth $110,116,823. 0.62% of the stock is owned by company insiders.

About Flex

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.