Tidal Investments LLC Has $10.58 Million Stake in Flex Ltd. $FLEX

Tidal Investments LLC grew its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 1,713.9% in the second quarter, HoldingsChannel.com reports. The firm owned 65,263 shares of the technology company’s stock after purchasing an additional 61,665 shares during the period. Tidal Investments LLC’s holdings in Flex were worth $10,577,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC purchased a new stake in Flex in the 4th quarter valued at $260,000. Goldman Sachs Group Inc. boosted its holdings in Flex by 19.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after acquiring an additional 211,046 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Flex in the 1st quarter worth $397,000. EverSource Wealth Advisors LLC raised its holdings in shares of Flex by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock valued at $132,000 after purchasing an additional 1,031 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock valued at $3,099,000 after purchasing an additional 29,821 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FLEX shares. Wall Street Zen downgraded shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group cut their target price on Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Barclays reduced their target price on Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, Raymond James Financial set a $170.00 price target on Flex and gave the stock an “outperform” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.20.

Flex Stock Performance

Shares of FLEX stock opened at $115.78 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. The firm has a market cap of $42.77 billion, a price-to-earnings ratio of 44.70, a P/E/G ratio of 0.55 and a beta of 1.67. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86. The firm’s 50-day simple moving average is $119.07 and its two-hundred day simple moving average is $110.45.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. As a group, equities analysts forecast that Flex Ltd. will post 4.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Daniel Wendler sold 1,311 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.20, for a total transaction of $190,357.20. Following the completion of the transaction, the chief accounting officer owned 37,932 shares in the company, valued at approximately $5,507,726.40. This represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Offer sold 6,657 shares of Flex stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.23, for a total value of $966,796.11. Following the completion of the sale, the executive vice president directly owned 91,122 shares of the company’s stock, valued at approximately $13,233,648.06. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 426,938 shares of company stock valued at $61,941,083. Company insiders own 0.62% of the company’s stock.

Flex Profile

Flex Ltd. (NASDAQ:FLEX) is a global manufacturing and supply-chain solutions company that helps original equipment manufacturers design, build and manage products. Its services span product design and engineering, prototyping, manufacturing, assembly, testing, logistics, supply-chain management and aftermarket support.

The company supports customers across industries including automotive, communications, consumer, industrial, healthcare and life sciences, and cloud and data-center infrastructure.