Kesler Norman & Wride LLC Purchases 511 Shares of Flex Ltd. (NASDAQ:FLEX)

Kesler Norman & Wride LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 3.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,462 shares of the technology company’s stock after buying an additional 511 shares during the period. Kesler Norman & Wride LLC’s holdings in Flex were worth $517,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Flex during the fourth quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Flex in the 4th quarter valued at about $38,000. EverSource Wealth Advisors LLC increased its stake in shares of Flex by 82.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after buying an additional 704 shares during the period. Finally, UMB Bank n.a. bought a new position in shares of Flex during the fourth quarter worth about $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Up 2.1 %

Shares of NASDAQ FLEX opened at $34.06 on Thursday. The stock has a market capitalization of $13.05 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The company has a 50-day moving average price of $38.47 and a 200-day moving average price of $37.65.

Flex (NASDAQ:FLEX) last issued 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 return on equity of 17.93% and a net margin of 3.95%. On average, equities research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

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

Analyst Upgrades and Downgrades

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

Flex 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.