Flex Ltd. (NASDAQ:FLEX) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 21.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 201,902 shares of the technology company’s stock after acquiring an additional 36,082 shares during the quarter. Vontobel Holding Ltd.’s holdings in Flex were worth $6,150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its holdings in Flex by 0.6% in the third quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after purchasing an additional 247,024 shares during the period. BlackRock Inc. grew its stake in Flex by 5.9% during the first quarter. BlackRock Inc. now owns 16,377,282 shares of the technology company’s stock worth $376,841,000 after buying an additional 916,299 shares during the period. Invesco Ltd. grew its stake in Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after buying an additional 5,741,044 shares during the period. Bank of America Corp DE grew its stake in Flex by 0.9% during the first quarter. Bank of America Corp DE now owns 8,742,594 shares of the technology company’s stock worth $201,167,000 after buying an additional 73,829 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Flex by 0.5% during the second quarter. Macquarie Group Ltd. now owns 7,738,381 shares of the technology company’s stock worth $111,975,000 after buying an additional 35,557 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Flex in a research note on Wednesday, March 6th. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group boosted their price objective on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Insider Activity at Flex

In related news, insider Rebecca Sidelinger sold 13,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total value of $382,763.25. Following the sale, the insider now directly owns 161,913 shares of the company’s stock, valued at $4,531,944.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Flex news, EVP David Scott Offer sold 75,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the sale, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca Sidelinger sold 13,675 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $27.99, for a total transaction of $382,763.25. Following the sale, the insider now directly owns 161,913 shares in the company, valued at $4,531,944.87. The disclosure for this sale can be found here. Insiders have sold 141,943 shares of company stock valued at $4,055,311 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Flex Price Performance

Shares of FLEX stock opened at $28.08 on Thursday. The company has a market capitalization of $11.83 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.74 and a beta of 1.19. The firm has a fifty day simple moving average of $28.35 and a 200-day simple moving average of $26.71. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a twelve month low of $19.44 and a twelve month high of $30.93.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. Equities research analysts anticipate that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

About Flex

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.