Nwam LLC Buys New Position in Flex Ltd. $FLEX

Nwam LLC purchased a new position in Flex Ltd. (NASDAQ:FLEX) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,856 shares of the technology company’s stock, valued at approximately $449,000.

A number of other hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Flex during the fourth quarter worth $28,000. Frazier Financial Advisors LLC purchased a new stake in Flex during the 4th quarter worth $28,000. Parkside Financial Bank & Trust lifted its holdings in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Gables Capital Management Inc. acquired a new position in Flex in the 4th quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Flex by 6,318.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after buying an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 33,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the completion of the transaction, the executive vice president directly owned 73,471 shares of the company’s stock, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 26,657 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,851,403.36. Following the completion of the transaction, the chief operating officer directly owned 257,527 shares of the company’s stock, valued at approximately $37,207,500.96. The trade was a 9.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 769,195 shares of company stock valued at $110,116,823. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays increased their target price on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, KeyCorp lifted their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.70.

Flex Price Performance

FLEX opened at $119.25 on Friday. The firm has a market cap of $43.69 billion, a price-to-earnings ratio of 51.18, a price-to-earnings-growth ratio of 0.64 and a beta of 1.64. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $143.16 and its 200 day moving average price is $95.78.

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

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.