D. Scott Neal Inc. Has $8.55 Million Position in Flex Ltd. (NASDAQ:FLEX)

D. Scott Neal Inc. trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 6.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 258,551 shares of the technology company’s stock after selling 16,949 shares during the quarter. Flex comprises 4.7% of D. Scott Neal Inc.’s holdings, making the stock its 7th biggest holding. D. Scott Neal Inc.’s holdings in Flex were worth $8,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Flex during the fourth quarter worth $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Flex during the fourth quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after acquiring an additional 509 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Flex by 21,475.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,726 shares of the technology company’s stock worth $57,000 after acquiring an additional 1,718 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Flex by 46.7% during the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock worth $58,000 after acquiring an additional 478 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Flex

In other news, CEO Revathi Advaithi sold 120,280 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $38.09, for a total transaction of $4,581,465.20. Following the transaction, the chief executive officer now directly owns 1,112,193 shares of the company’s stock, valued at approximately $42,363,431.37. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 32,173 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $1,350,944.27. Following the transaction, the insider now directly owns 270,483 shares in the company, valued at $11,357,581.17. This trade represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 891,134 shares of company stock worth $36,818,451 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FLEX. Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. KeyCorp reiterated an “overweight” rating on shares of Flex in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 28th. Finally, Barclays increased their price objective on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $45.33.

Flex Trading Up 1.2%

NASDAQ FLEX opened at $43.07 on Friday. The stock’s 50-day simple moving average is $36.44 and its two-hundred day simple moving average is $38.20. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $16.08 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.43 and a beta of 1.04.

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

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.