Fjarde AP Fonden Fourth Swedish National Pension Fund Makes New $5.25 Million Investment in Flex Ltd. $FLEX

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 86,900 shares of the technology company’s stock, valued at approximately $5,250,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in Flex during the 4th quarter worth $2,131,000. Parallel Advisors LLC boosted its position in Flex by 19.6% during the 4th quarter. Parallel Advisors LLC now owns 4,293 shares of the technology company’s stock worth $259,000 after acquiring an additional 705 shares during the period. Harvest Fund Management Co. Ltd boosted its position in Flex by 24.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 28,396 shares of the technology company’s stock worth $1,715,000 after acquiring an additional 5,489 shares during the period. Prudential PLC boosted its position in Flex by 97.0% during the 4th quarter. Prudential PLC now owns 24,001 shares of the technology company’s stock worth $1,450,000 after acquiring an additional 11,816 shares during the period. Finally, Vise Technologies Inc. boosted its position in Flex by 3.2% during the 4th quarter. Vise Technologies Inc. now owns 116,924 shares of the technology company’s stock worth $7,065,000 after acquiring an additional 3,631 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLEX shares. The Goldman Sachs Group boosted their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. KeyCorp upped their price objective on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One investment 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Trading Down 0.7%

Shares of Flex stock opened at $150.83 on Tuesday. 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 firm has a market cap of $55.26 billion, a price-to-earnings ratio of 64.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63. The business has a fifty day simple moving average of $109.29 and a 200-day simple moving average of $79.53. Flex Ltd. has a fifty-two week low of $42.83 and a fifty-two week high of $166.86.

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

Insider Activity at Flex

In other news, CEO Revathi Advaithi sold 83,500 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total transaction of $11,094,645.00. Following the sale, the chief executive officer directly owned 605,522 shares of the company’s stock, valued at $80,455,708.14. The trade was a 12.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erin Mcsweeney sold 2,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the sale, the director directly owned 9,512 shares in the company, valued at $1,260,435.12. This trade represents a 17.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 345,012 shares of company stock valued at $48,508,103 over the last ninety days. Company insiders own 0.57% of the company’s stock.

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.