IFM Investors Pty Ltd Increases Stock Position in Flex Ltd. $FLEX

IFM Investors Pty Ltd grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 5.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 82,196 shares of the technology company’s stock after buying an additional 4,398 shares during the period. IFM Investors Pty Ltd’s holdings in Flex were worth $5,381,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in shares of 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 purchasing an additional 166 shares in the last quarter. Parallel Advisors LLC increased its position in Flex by 5.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock valued at $208,000 after buying an additional 181 shares in the last quarter. Fred Alger Management LLC raised its stake in Flex by 0.7% during the fourth quarter. Fred Alger Management LLC now owns 30,881 shares of the technology company’s stock valued at $1,866,000 after buying an additional 210 shares during the last quarter. Parcion Private Wealth LLC boosted its holdings in Flex by 1.5% in the fourth quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock worth $855,000 after acquiring an additional 216 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Flex by 1.2% in the third quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 225 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 22,627 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the transaction, the insider directly owned 253,199 shares in the company, valued at $36,582,191.52. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,657 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the sale, the chief operating officer owned 257,527 shares of the company’s stock, valued at approximately $37,207,500.96. This trade represents a 9.38% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 769,195 shares of company stock valued at $110,116,823 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent analyst reports. KeyCorp lifted their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. 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. The Goldman Sachs Group lifted their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays increased their price target on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, Stifel Nicolaus upped their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and an average target price of $115.70.

Flex Stock Performance

Shares of FLEX stock opened at $136.85 on Friday. 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 company has a 50 day moving average price of $137.84 and a 200-day moving average price of $91.11. Flex Ltd. has a 52 week low of $47.83 and a 52 week high of $166.86. The firm 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 issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion for the quarter. As a group, equities research analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.

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.