Sather Financial Group Inc Buys New Shares in Flex Ltd. (NASDAQ:FLEX)

Sather Financial Group Inc purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, Holdings Channel reports. The firm purchased 5,405 shares of the technology company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FLEX. Harbor Capital Advisors Inc. acquired a new position in Flex during the third quarter worth approximately $29,000. R Squared Ltd acquired a new stake in shares of Flex during the 4th quarter worth $35,000. Huntington National Bank raised its position in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares during the period. 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 valued at $53,000 after acquiring an additional 305 shares during the period. Finally, UMB Bank n.a. acquired a new stake in Flex during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday. They set a “buy” rating and a $52.00 target price for the company. KeyCorp started coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Barclays lifted their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. The Goldman Sachs Group set a $39.00 price target on Flex in a report on Thursday, October 17th. Finally, Craig Hallum boosted their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $44.33.

Flex Stock Down 0.6 %

Shares of Flex stock opened at $42.78 on Wednesday. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a market capitalization of $16.39 billion, a PE ratio of 17.25, a P/E/G ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The business has a 50-day moving average of $40.34 and a 200-day moving average of $36.02.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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%. As a group, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

About Flex

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.