Tower Wealth Partners Inc. Makes New $213,000 Investment in Flex Ltd. (NASDAQ:FLEX)

Tower Wealth Partners Inc. acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,541 shares of the technology company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Huntington National Bank raised its stake in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares during the period. R Squared Ltd bought a new position in shares of Flex in the fourth quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Flex during the 4th quarter worth about $38,000. First Horizon Advisors Inc. boosted its holdings in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares during the period. Finally, UMB Bank n.a. acquired a new position in Flex in the 4th quarter valued at about $64,000. 94.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Flex Trading Up 0.7 %

Shares of FLEX stock opened at $34.70 on Monday. The stock has a market cap of $13.29 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $40.69 and a 200 day simple moving average of $37.22.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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%. On average, research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the company’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 transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This represents 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.

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.