Jane Street Group LLC purchased a new position in Flex Ltd (NASDAQ:FLEX) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,020 shares of the technology company’s stock, valued at approximately $229,000.
Other large investors also recently made changes to their positions in the company. Fiduciary Trust Co. acquired a new stake in shares of Flex in the first quarter worth about $163,000. Tower Bridge Advisors acquired a new stake in shares of Flex in the first quarter worth about $169,000. MANA Advisors LLC acquired a new stake in shares of Flex in the first quarter worth about $183,000. Sciencast Management LP acquired a new stake in shares of Flex in the fourth quarter worth about $226,000. Finally, West Branch Capital LLC acquired a new stake in shares of Flex in the first quarter worth about $260,000. 94.37% of the stock is owned by institutional investors.
In related news, President Douglas Britt sold 8,067 shares of the business’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $14.28, for a total transaction of $115,196.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO David P. Bennett sold 1,939 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $13.82, for a total value of $26,796.98. The disclosure for this sale can be found here. Insiders have sold a total of 492,411 shares of company stock valued at $7,072,662 in the last three months. 0.88% of the stock is owned by insiders.
NASDAQ FLEX opened at $14.81 on Friday. Flex Ltd has a twelve month low of $12.93 and a twelve month high of $19.71. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.96. The stock has a market cap of $7.61 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 0.77 and a beta of 0.91.
Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, April 26th. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Flex had a return on equity of 14.32% and a net margin of 1.68%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the firm posted $0.29 EPS. Flex’s revenue for the quarter was up 9.3% on a year-over-year basis. analysts expect that Flex Ltd will post 0.94 EPS for the current year.
FLEX has been the subject of a number of analyst reports. Raymond James cut Flex from a “strong-buy” rating to a “market perform” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Friday, April 27th. Zacks Investment Research raised Flex from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, March 27th. Citigroup reduced their price target on Flex from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, April 30th. ValuEngine cut Flex from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 23rd. Finally, Stifel Nicolaus cut their price objective on Flex from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Flex has an average rating of “Buy” and a consensus price target of $19.61.
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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