Forsta AP Fonden Purchases Shares of 126,400 Flex Ltd. $FLEX

Forsta AP Fonden purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 126,400 shares of the technology company’s stock, valued at approximately $7,637,000.

A number of other institutional investors have also recently added to or reduced their stakes in FLEX. Brighton Jones LLC purchased a new stake in Flex during the fourth quarter valued at about $260,000. Goldman Sachs Group Inc. grew its position in Flex by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock valued at $42,314,000 after acquiring an additional 211,046 shares during the period. Empowered Funds LLC purchased a new stake in Flex during the first quarter valued at about $397,000. EverSource Wealth Advisors LLC grew its position in Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,031 shares during the period. Finally, First Trust Advisors LP grew its position in Flex by 92.4% during the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock valued at $3,099,000 after acquiring an additional 29,821 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 1.8%

Shares of FLEX opened at $148.01 on Tuesday. The company has a market capitalization of $54.23 billion, a P/E ratio of 63.52, a P/E/G ratio of 0.79 and a beta of 1.63. Flex Ltd. has a one year low of $41.43 and a one year high of $154.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The stock has a 50-day moving average price of $100.23 and a 200 day moving average price of $76.11.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm 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%. Sell-side analysts forecast that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 22,212 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.40, for a total value of $3,162,988.80. Following the completion of the transaction, the executive vice president owned 74,926 shares of the company’s stock, valued at approximately $10,669,462.40. This represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles K. Stevens III sold 15,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $138.14, for a total value of $2,072,100.00. Following the transaction, the director directly owned 45,426 shares in the company, valued at approximately $6,275,147.64. This represents a 24.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 329,512 shares of company stock valued at $44,459,298 in the last three months. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FLEX has been the subject of several analyst reports. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Robert W. Baird set a $165.00 target price on Flex in a research report on Thursday, May 7th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. The Goldman Sachs Group upped their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. 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. Based on data from MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and a consensus price target of $112.80.

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.