Kesler Norman & Wride LLC Has $517,000 Position in Flex Ltd. (NASDAQ:FLEX)

Kesler Norman & Wride LLC lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 3.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,462 shares of the technology company’s stock after buying an additional 511 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Flex were worth $517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of Flex by 9.0% during the third quarter. Cerity Partners LLC now owns 18,716 shares of the technology company’s stock worth $626,000 after acquiring an additional 1,538 shares during the period. D.A. Davidson & CO. acquired a new stake in Flex during the 3rd quarter worth approximately $460,000. Captrust Financial Advisors boosted its stake in Flex by 10.1% in the 3rd quarter. Captrust Financial Advisors now owns 35,218 shares of the technology company’s stock valued at $1,177,000 after purchasing an additional 3,224 shares during the period. HighTower Advisors LLC grew its holdings in Flex by 9.6% in the 3rd quarter. HighTower Advisors LLC now owns 121,037 shares of the technology company’s stock valued at $4,045,000 after buying an additional 10,560 shares in the last quarter. Finally, Portolan Capital Management LLC increased its position in Flex by 23.5% during the 3rd quarter. Portolan Capital Management LLC now owns 440,856 shares of the technology company’s stock worth $14,738,000 after buying an additional 84,017 shares during the period. Institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flex has a consensus rating of “Buy” and a consensus price target of $44.33.

Flex Trading Up 2.1 %

Shares of Flex stock opened at $34.06 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.43 and a beta of 1.07. The firm’s 50-day moving average price is $38.47 and its two-hundred day moving average price is $37.65.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Flex Company 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.