Xponance Inc. Takes Position in Flex Ltd. (NASDAQ:FLEX)

Xponance Inc. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,036 shares of the technology company’s stock, valued at approximately $1,076,000.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in Flex in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in Flex during the fourth quarter valued at $38,000. First Horizon Advisors Inc. grew its position in Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after acquiring an additional 704 shares during the last quarter. Finally, UMB Bank n.a. bought a new position in Flex in the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of Flex stock opened at $36.40 on Monday. The stock has a market capitalization of $13.94 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The business’s 50 day simple moving average is $39.68 and its two-hundred day simple moving average is $37.41.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays boosted their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $44.33.

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.