Flex Ltd. $FLEX Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 32.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,100 shares of the technology company’s stock after purchasing an additional 19,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Flex were worth $4,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new stake in shares of Flex during the 4th quarter worth approximately $28,000. CENTRAL TRUST Co raised its position in shares of Flex by 238.3% during the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Flex during the 4th quarter worth approximately $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flex during the 3rd quarter worth approximately $52,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Flex during the 3rd quarter worth approximately $57,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLEX. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. JPMorgan Chase & Co. increased their price objective on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. KeyCorp increased their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on Flex in a report on Thursday, May 7th. Finally, Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.80.

Insider Buying and Selling at Flex

In other news, CEO Revathi Advaithi sold 114,090 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the completion of the sale, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at $98,096,062.14. This trade represents a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 22,216 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the sale, the insider directly owned 232,706 shares of the company’s stock, valued at approximately $33,132,680.28. This represents a 8.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 226,512 shares of company stock worth $30,720,858. 0.57% of the stock is owned by insiders.

Flex Stock Performance

FLEX opened at $132.47 on Friday. The firm has a market cap of $48.53 billion, a PE ratio of 56.85, a P/E/G ratio of 0.69 and a beta of 1.46. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $90.64 and a 200-day simple moving average of $72.62. Flex Ltd. has a fifty-two week low of $40.15 and a fifty-two week high of $147.34.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, equities analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.