International Assets Investment Management LLC Invests $5.45 Million in Flex Ltd. (NASDAQ:FLEX)

International Assets Investment Management LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 165,977 shares of the technology company’s stock, valued at approximately $5,449,000.

Several other hedge funds also recently made changes to their positions in FLEX. Wakefield Asset Management LLLP acquired a new position in Flex during the fourth quarter worth $3,415,000. Allworth Financial LP boosted its stake in shares of Flex by 68.7% during the 4th quarter. Allworth Financial LP now owns 5,412 shares of the technology company’s stock worth $165,000 after buying an additional 2,203 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Flex in the 4th quarter valued at about $77,000. Veracity Capital LLC increased its position in shares of Flex by 7.8% in the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock valued at $251,000 after acquiring an additional 599 shares during the last quarter. Finally, Deltec Asset Management LLC raised its holdings in Flex by 55.2% during the fourth quarter. Deltec Asset Management LLC now owns 292,500 shares of the technology company’s stock worth $8,910,000 after acquiring an additional 104,000 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

FLEX has been the topic of several recent analyst reports. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. The Goldman Sachs Group lifted their price target on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays upped their price objective on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com initiated coverage on Flex in a research note on Wednesday, March 6th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.83.

Flex Price Performance

Flex stock opened at $29.14 on Wednesday. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.74 and a beta of 1.18. The stock’s 50 day moving average is $28.51 and its 200-day moving average is $26.92. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12 month low of $20.41 and a 12 month high of $30.93.

Insider Buying and Selling at Flex

In other news, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. In other news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at $830,009.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $30.51, for a total value of $1,323,554.31. Following the sale, the insider now directly owns 154,810 shares in the company, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock valued at $4,055,311 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

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.