Magee Thomson Investment Partners LLC Has $9.204 Million Position in Flex Ltd (FLEX)
Magee Thomson Investment Partners LLC decreased its position in shares of Flex Ltd (NASDAQ:FLEX) by 11.0% during the first quarter, Holdings Channel reports. The fund owned 547,900 shares of the technology company’s stock after selling 67,500 shares during the period. Flex comprises about 3.6% of Magee Thomson Investment Partners LLC’s holdings, making the stock its 13th largest position. Magee Thomson Investment Partners LLC owned approximately 0.10% of Flex worth $9,204,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fulton Bank N.A. boosted its position in Flex by 4.2% in the first quarter. Fulton Bank N.A. now owns 13,165 shares of the technology company’s stock worth $221,000 after buying an additional 528 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Flex during the first quarter worth $522,000. Daiwa SB Investments Ltd. boosted its position in Flex by 2.0% in the first quarter. Daiwa SB Investments Ltd. now owns 51,380 shares of the technology company’s stock worth $863,000 after buying an additional 990 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Flex by 32.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 65,950 shares of the technology company’s stock worth $948,000 after buying an additional 16,013 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in Flex during the third quarter worth $1,310,000. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
Flex Ltd (NASDAQ:FLEX) remained flat at $15.97 during mid-day trading on Friday. The company had a trading volume of 3,132,218 shares. The stock has a market cap of $8.55 billion, a P/E ratio of 29.68 and a beta of 0.75. The company’s 50-day moving average is $16.47 and its 200 day moving average is $15.14. Flex Ltd has a 52-week low of $11.39 and a 52-week high of $16.99.
Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Thursday, January 26th. The technology company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Flex had a return on equity of 21.30% and a net margin of 1.24%. The business earned $6.11 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. On average, equities analysts anticipate that Flex Ltd will post $1.17 EPS for the current year.
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FLEX has been the topic of a number of analyst reports. Zacks Investment Research raised Flex from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, March 28th. Royal Bank of Canada reaffirmed a “buy” rating and set a $22.00 price objective on shares of Flex in a research report on Tuesday, March 28th. Citigroup Inc set a $18.00 price objective on Flex and gave the company a “buy” rating in a research report on Monday, March 20th. Stifel Nicolaus boosted their price target on Flex from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Finally, Needham & Company LLC boosted their price target on Flex from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $16.75.
In other news, insider Francois Barbier sold 52,911 shares of Flex stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $16.42, for a total value of $868,798.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David P. Bennett sold 6,000 shares of Flex stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $15.86, for a total value of $95,160.00. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.
Flex Company Profile
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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