Copley Financial Group Inc. Takes Position in Flex Ltd. $FLEX

Copley Financial Group Inc. acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 6,423 shares of the technology company’s stock, valued at approximately $388,000.

Several other institutional investors have also added to or reduced their stakes in FLEX. Polar Capital Holdings Plc raised its holdings in Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. Waterway Wealth Management LLC bought a new stake in shares of Flex in the 4th quarter valued at $1,164,000. Cynosure Group LLC bought a new stake in shares of Flex in the 4th quarter valued at $442,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Flex during the fourth quarter worth $1,662,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Flex during the fourth quarter worth $952,000. 94.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FLEX. KeyCorp upped their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group lifted their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Flex Trading Down 1.5%

NASDAQ:FLEX opened at $146.93 on Wednesday. Flex Ltd. has a 12 month low of $43.62 and a 12 month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $53.83 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 0.79 and a beta of 1.64. The firm has a fifty day simple moving average of $119.05 and a two-hundred day simple moving average of $83.35.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. Analysts expect that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flex news, Director Erin Mcsweeney sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the completion of the sale, the director owned 9,512 shares of the company’s stock, valued at approximately $1,260,435.12. This trade represents a 17.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 345,012 shares of company stock worth $48,508,103 over the last three months. Insiders own 0.57% of the company’s stock.

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.