Corbyn Investment Management Inc. MD Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Corbyn Investment Management Inc. MD purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 76,100 shares of the technology company’s stock, valued at approximately $2,318,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new position in Flex during the third quarter worth about $30,000. CWM LLC boosted its position in Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after purchasing an additional 773 shares during the period. Fifth Third Bancorp boosted its position in Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,455 shares during the period. Bruce G. Allen Investments LLC bought a new position in Flex during the fourth quarter worth about $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Flex during the fourth quarter worth about $77,000. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. StockNews.com initiated coverage on shares of Flex in a report on Wednesday, March 6th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and an average target price of $34.20.

Insider Buying and Selling at Flex

In other Flex news, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the transaction, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at $830,009.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Flex news, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the transaction, the chief accounting officer now directly owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is currently owned by company insiders.

Flex Trading Up 1.1 %

Shares of Flex stock traded up $0.33 on Friday, hitting $29.03. The stock had a trading volume of 1,314,813 shares, compared to its average volume of 4,812,555. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. Flex Ltd. has a one year low of $19.44 and a one year high of $30.93. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.78 and a beta of 1.19. The stock’s 50-day simple moving average is $28.44 and its two-hundred day simple moving average is $26.77.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. As a group, sell-side analysts predict that Flex Ltd. will post 2.16 EPS for the current year.

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.