J. Safra Sarasin Holding AG Has $38.69 Million Stock Position in Flex Ltd. $FLEX

J. Safra Sarasin Holding AG reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 667,484 shares of the technology company’s stock after selling 43,136 shares during the quarter. J. Safra Sarasin Holding AG owned 0.18% of Flex worth $38,694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hilltop National Bank acquired a new position in Flex during the 2nd quarter worth approximately $351,000. Dynasty Wealth Management LLC boosted its position in Flex by 80.1% in the third quarter. Dynasty Wealth Management LLC now owns 43,602 shares of the technology company’s stock valued at $2,528,000 after buying an additional 19,388 shares in the last quarter. Sowell Financial Services LLC grew its stake in shares of Flex by 220.6% during the third quarter. Sowell Financial Services LLC now owns 24,891 shares of the technology company’s stock worth $1,443,000 after buying an additional 17,128 shares during the last quarter. Ethic Inc. increased its holdings in shares of Flex by 140.2% during the third quarter. Ethic Inc. now owns 46,553 shares of the technology company’s stock worth $2,699,000 after buying an additional 27,169 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Flex by 192.7% in the 3rd quarter. SG Americas Securities LLC now owns 597,899 shares of the technology company’s stock valued at $34,660,000 after acquiring an additional 393,620 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James Financial upgraded Flex from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 14th. The Goldman Sachs Group boosted their price target on Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Argus set a $85.00 target price on shares of Flex in a research report on Friday, October 31st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $23.00 price target on shares of Flex in a research report on Wednesday, November 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.11.

Insider Buying and Selling at Flex

In related news, Director Michael E. Hurlston sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the transaction, the director owned 58,561 shares in the company, valued at $3,396,538. The trade was a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Krumm sold 21,406 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the sale, the chief financial officer owned 143,803 shares of the company’s stock, valued at approximately $8,805,057.69. The trade was a 12.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 101,406 shares of company stock valued at $6,129,539 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

Flex Stock Performance

NASDAQ:FLEX opened at $63.75 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $72.22. The company has a 50 day simple moving average of $62.54 and a two-hundred day simple moving average of $58.54. The company has a market capitalization of $23.57 billion, a PE ratio of 28.21, a P/E/G ratio of 1.69 and a beta of 1.24.

Flex Company 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.