Sora Investors LLC Invests $2.83 Million in Flex Ltd. (NASDAQ:FLEX)

Sora Investors LLC acquired a new position in Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 73,815 shares of the technology company’s stock, valued at approximately $2,834,000.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Flex by 42.6% in the 3rd quarter. Barclays PLC now owns 774,856 shares of the technology company’s stock worth $25,902,000 after acquiring an additional 231,572 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after buying an additional 296,505 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Flex in the fourth quarter valued at about $321,000. Park Avenue Securities LLC grew its position in shares of Flex by 12.2% during the fourth quarter. Park Avenue Securities LLC now owns 24,484 shares of the technology company’s stock worth $940,000 after purchasing an additional 2,654 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in Flex during the 4th quarter valued at approximately $219,000. 94.30% of the stock is currently owned by institutional investors.

Insider Activity at Flex

In related news, CAO Daniel Wendler sold 4,502 shares of Flex stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total value of $189,038.98. Following the transaction, the chief accounting officer now owns 38,676 shares in the company, valued at approximately $1,624,005.24. This trade represents a 10.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Revathi Advaithi sold 164,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $6,915,753.00. Following the sale, the chief executive officer now owns 1,319,823 shares of the company’s stock, valued at approximately $55,419,367.77. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 475,255 shares of company stock valued at $19,002,628. 0.82% of the stock is owned by corporate insiders.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $41.95 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The firm has a market capitalization of $16.07 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.43 and a beta of 0.96. The company’s fifty day moving average price is $34.12 and its 200 day moving average price is $37.65.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.22 billion. Flex had a return on equity of 17.93% and a net margin of 3.95%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, sell-side analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on FLEX. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a research note on Monday. Barclays boosted their price objective on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, KeyCorp raised their price objective on Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.33.

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.