Dynasty Wealth Management LLC Has $1.42 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

Dynasty Wealth Management LLC increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,957 shares of the technology company’s stock after buying an additional 819 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Flex were worth $1,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Flex by 4.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 74,508 shares of the technology company’s stock valued at $2,491,000 after purchasing an additional 3,074 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Flex by 2.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,950 shares of the technology company’s stock worth $1,570,000 after buying an additional 1,296 shares during the period. First Trust Direct Indexing L.P. lifted its stake in Flex by 39.1% in the third quarter. First Trust Direct Indexing L.P. now owns 16,917 shares of the technology company’s stock valued at $566,000 after buying an additional 4,757 shares in the last quarter. Stephens Inc. AR boosted its holdings in shares of Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after buying an additional 361 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Flex by 3.9% during the third quarter. New York State Common Retirement Fund now owns 1,345,604 shares of the technology company’s stock worth $44,984,000 after acquiring an additional 50,155 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Performance

FLEX opened at $37.79 on Friday. The business’s 50-day simple moving average is $41.09 and its 200 day simple moving average is $36.94. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a market capitalization of $14.48 billion, a PE ratio of 15.24, a PEG ratio of 2.43 and a beta of 1.10.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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, sell-side analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling 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 stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLEX. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price for the company. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.