Deltec Asset Management LLC Purchases 40,003 Shares of Flex Ltd. $FLEX

Deltec Asset Management LLC increased its position in Flex Ltd. (NASDAQ:FLEX) by 40.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,284 shares of the technology company’s stock after buying an additional 40,003 shares during the period. Flex comprises 2.4% of Deltec Asset Management LLC’s portfolio, making the stock its 11th largest holding. Deltec Asset Management LLC’s holdings in Flex were worth $15,320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FLEX. Sei Investments Co. grew its stake in Flex by 52.2% in the 1st quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock worth $146,016,000 after acquiring an additional 764,558 shares during the period. KBC Group NV boosted its holdings in Flex by 541.5% in the first quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after acquiring an additional 1,659,384 shares during the last quarter. Amundi grew its holdings in shares of Flex by 15.5% during the 1st quarter. Amundi now owns 1,494,418 shares of the technology company’s stock worth $97,825,000 after purchasing an additional 200,553 shares during the period. Pacer Advisors Inc. grew its stake in Flex by 9.3% during the first quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after buying an additional 109,992 shares during the period. Finally, Swiss National Bank increased its holdings in Flex by 5.9% in the 1st quarter. Swiss National Bank now owns 1,085,250 shares of the technology company’s stock valued at $71,040,000 after purchasing an additional 60,500 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLEX shares. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Robert W. Baird dropped their price target on shares of Flex from $142.00 to $135.00 in a research note on Monday, October 19th. Wall Street Zen raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Barclays dropped their target price on shares of Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Flex Stock Up 0.6%

NASDAQ FLEX opened at $76.99 on Tuesday. Flex Ltd. has a 12 month low of $53.07 and a 12 month high of $166.86. The company’s 50 day simple moving average is $108.05 and its 200 day simple moving average is $102.29. The company has a market capitalization of $28.44 billion, a P/E ratio of 23.92, a PEG ratio of 0.39 and a beta of 1.67. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89.

Flex (NASDAQ:FLEX) last issued its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. Equities research analysts expect that Flex Ltd. will post 4.27 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 2,755 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider owned 243,175 shares in the company, valued at $29,336,632. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.62% of the stock is currently owned by company insiders.

About Flex

Flex Ltd. (NASDAQ: FLEX) is a global manufacturing and supply chain solutions provider. The company helps original equipment manufacturers design, engineer, manufacture, distribute and service products across their lifecycles.

Flex serves customers in industries including automotive, communications, consumer electronics, health care, industrial, lifestyle and cloud infrastructure. Its capabilities include product design and engineering, printed circuit board assembly, systems integration, supply chain management, logistics, and aftermarket services.

The company was founded in 1969 as Flextronics and later adopted the name Flex.