Vontobel Holding Ltd. Sells 8,045 Shares of Flex Ltd. (NASDAQ:FLEX)

Vontobel Holding Ltd. cut its stake in Flex Ltd. (NASDAQ:FLEX) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,925 shares of the technology company’s stock after selling 8,045 shares during the period. Vontobel Holding Ltd.’s holdings in Flex were worth $2,185,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in FLEX. Geode Capital Management LLC grew its position in Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after buying an additional 3,844,935 shares during the period. Charles Schwab Investment Management Inc. grew its position in Flex by 462.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after buying an additional 2,170,262 shares during the period. Simcoe Capital Management LLC bought a new stake in Flex during the third quarter valued at approximately $22,075,000. State Street Corp lifted its holdings in Flex by 19.7% during the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Flex by 2,600.1% during the third quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company’s stock valued at $16,503,000 after purchasing an additional 475,376 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

FLEX stock opened at $42.51 on Tuesday. The company’s fifty day moving average price is $40.72 and its 200-day moving average price is $36.40. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The company has a market capitalization of $16.29 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, equities analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FLEX has been the topic of several analyst reports. 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 target on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Barclays boosted their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $44.33.

Flex Company 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.