Kepler Cheuvreux Suisse SA Buys Shares of 74,545 Flex Ltd. $FLEX

Kepler Cheuvreux Suisse SA bought a new position in Flex Ltd. (NASDAQ:FLEX) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 74,545 shares of the technology company’s stock, valued at approximately $4,880,000.

Several other hedge funds have also recently modified their holdings of FLEX. USA Financial Formulas bought a new position in shares of Flex during the fourth quarter valued at $28,000. Frazier Financial Advisors LLC bought a new stake in Flex in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust raised its position in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after buying an additional 166 shares during the last quarter. Gables Capital Management Inc. purchased a new position in Flex in the 4th quarter worth about $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Flex by 6,318.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after acquiring an additional 695 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of Flex stock opened at $136.85 on Friday. Flex Ltd. has a 1-year low of $47.83 and a 1-year high of $166.86. The company’s fifty day simple moving average is $137.84 and its 200-day simple moving average is $91.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The stock has a market capitalization of $50.14 billion, a PE ratio of 58.73, a P/E/G ratio of 0.72 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Insiders Place Their Bets

In other news, EVP David Scott Offer sold 6,657 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.23, for a total value of $966,796.11. Following the transaction, the executive vice president owned 91,122 shares of the company’s stock, valued at $13,233,648.06. This trade represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 7,269 shares of Flex stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.22, for a total value of $1,055,604.18. Following the transaction, the insider directly owned 245,930 shares in the company, valued at approximately $35,713,954.60. The trade was a 2.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by corporate insiders.

Flex Profile

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.