Shine Investment Advisory Services Inc. Grows Stock Position in Flex Ltd (NASDAQ:FLEX)

Shine Investment Advisory Services Inc. grew its holdings in shares of Flex Ltd (NASDAQ:FLEX) by 33.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,071 shares of the technology company’s stock after purchasing an additional 1,024 shares during the quarter. Shine Investment Advisory Services Inc.’s holdings in Flex were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLEX. Norges Bank purchased a new position in shares of Flex during the fourth quarter valued at $38,403,000. Schneider Capital Management Corp increased its position in shares of Flex by 15.1% in the first quarter. Schneider Capital Management Corp now owns 46,141 shares of the technology company’s stock valued at $461,000 after buying an additional 6,041 shares in the last quarter. TCW Group Inc. increased its position in shares of Flex by 58.0% in the first quarter. TCW Group Inc. now owns 104,271 shares of the technology company’s stock valued at $1,043,000 after buying an additional 38,287 shares in the last quarter. Hanson & Doremus Investment Management increased its position in shares of Flex by 4.0% in the second quarter. Hanson & Doremus Investment Management now owns 121,735 shares of the technology company’s stock valued at $1,165,000 after buying an additional 4,710 shares in the last quarter. Finally, KCS Wealth Advisory increased its position in shares of Flex by 51.4% in the first quarter. KCS Wealth Advisory now owns 43,604 shares of the technology company’s stock valued at $436,000 after buying an additional 14,812 shares in the last quarter. 94.13% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Goldman Sachs Group upgraded Flex from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, June 6th. BidaskClub upgraded Flex from a “sell” rating to a “hold” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upgraded Flex from a “neutral” rating to an “overweight” rating and set a $12.00 price objective for the company in a research report on Wednesday, May 29th. ValuEngine upgraded Flex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating and set a $9.50 price objective for the company in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $10.38.

Shares of NASDAQ:FLEX traded down $0.02 during trading on Wednesday, reaching $10.39. The stock had a trading volume of 228,409 shares, compared to its average volume of 5,376,035. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average of $9.99. The company has a market cap of $5.36 billion, a PE ratio of 57.50, a PEG ratio of 1.40 and a beta of 1.80. Flex Ltd has a 1-year low of $6.74 and a 1-year high of $14.33.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.11). The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.25 billion. Flex had a return on equity of 0.73% and a net margin of 0.09%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. Research analysts expect that Flex Ltd will post 0.49 earnings per share for the current year.

In other news, insider Paul Humphries sold 9,342 shares of Flex stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $9.56, for a total value of $89,309.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Christopher Collier sold 12,890 shares of Flex stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $9.61, for a total value of $123,872.90. Following the completion of the sale, the chief financial officer now directly owns 1,118,171 shares in the company, valued at $10,745,623.31. The disclosure for this sale can be found here. Insiders sold 157,902 shares of company stock worth $1,487,783 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Flex Company Profile

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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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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