Deltec Asset Management LLC decreased its position in Flex Ltd (NASDAQ:FLEX) by 88.6% during the 2nd quarter, Holdings Channel reports. The fund owned 10,000 shares of the technology company’s stock after selling 78,000 shares during the quarter. Deltec Asset Management LLC’s holdings in Flex were worth $102,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Sciencast Management LP purchased a new position in Flex in the second quarter valued at approximately $1,013,000. Stratos Wealth Advisors LLC purchased a new position in shares of Flex during the second quarter worth approximately $149,000. Raymond James & Associates grew its position in shares of Flex by 1.6% during the second quarter. Raymond James & Associates now owns 190,267 shares of the technology company’s stock worth $1,950,000 after acquiring an additional 3,077 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Flex during the second quarter worth approximately $53,000. Finally, XTX Markets LLC purchased a new position in shares of Flex during the second quarter worth approximately $240,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on FLEX. Royal Bank of Canada restated a “hold” rating and set a $9.00 target price on shares of Flex in a research report on Wednesday, May 6th. Cfra lowered their price objective on shares of Flex from $15.00 to $12.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Citigroup lifted their price objective on shares of Flex from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday. Finally, BidaskClub upgraded shares of Flex from a “sell” rating to a “hold” rating in a research report on Thursday, July 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Flex has an average rating of “Hold” and an average target price of $11.75.
NASDAQ:FLEX opened at $11.49 on Friday. The company has a market capitalization of $5.72 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.78. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. Flex Ltd has a 52-week low of $5.36 and a 52-week high of $14.00. The stock has a fifty day simple moving average of $10.42 and a 200-day simple moving average of $10.45.
Flex (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, July 30th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.01 billion. Flex had a return on equity of 3.32% and a net margin of 0.41%. As a group, equities analysts anticipate that Flex Ltd will post 0.87 earnings per share for the current year.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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