International Assets Investment Management LLC Invests $5.45 Million in Flex Ltd. (NASDAQ:FLEX)

International Assets Investment Management LLC acquired a new position in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 165,977 shares of the technology company’s stock, valued at approximately $5,449,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its position in shares of Flex by 0.6% in the third quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after purchasing an additional 247,024 shares in the last quarter. LSV Asset Management grew its stake in Flex by 6.8% in the 3rd quarter. LSV Asset Management now owns 6,996,205 shares of the technology company’s stock worth $188,758,000 after buying an additional 447,200 shares in the last quarter. Vanguard Group Inc. raised its position in Flex by 5.7% during the third quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after purchasing an additional 302,086 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Flex by 3.2% during the third quarter. Earnest Partners LLC now owns 4,425,891 shares of the technology company’s stock worth $119,411,000 after acquiring an additional 138,979 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Flex by 9.3% in the third quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock worth $61,836,000 after purchasing an additional 195,447 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FLEX shares. The Goldman Sachs Group raised their price target on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. upped their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. StockNews.com began coverage on Flex in a research note on Wednesday, March 6th. They issued a “hold” rating for the company. Finally, Barclays boosted their price objective on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Flex has an average rating of “Moderate Buy” and an average price target of $32.83.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares in the company, valued at approximately $4,460,826.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the sale, the insider now directly owns 154,810 shares in the company, valued at $4,723,253.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,943 shares of company stock valued at $4,055,311. Corporate insiders own 0.56% of the company’s stock.

Flex Trading Down 0.2 %

Shares of NASDAQ FLEX opened at $29.14 on Wednesday. The stock has a market cap of $12.27 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. Flex Ltd. has a 1 year low of $20.41 and a 1 year high of $30.93. The firm has a 50-day moving average of $28.51 and a 200 day moving average of $26.92.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.