KBC Group NV Makes New $231,000 Investment in Flex Ltd. (NASDAQ:FLEX)

KBC Group NV purchased a new position in Flex Ltd. (NASDAQ:FLEXFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,585 shares of the technology company’s stock, valued at approximately $231,000.

A number of other hedge funds also recently modified their holdings of FLEX. Troluce Capital Advisors LLC lifted its holdings in shares of Flex by 101.2% in the third quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock valued at $14,858,000 after purchasing an additional 48,097,992 shares in the last quarter. Norges Bank acquired a new position in Flex during the 4th quarter worth approximately $165,000,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Flex by 211.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock worth $38,032,000 after acquiring an additional 956,676 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Flex by 63.9% in the fourth quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after purchasing an additional 944,928 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Flex by 57.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock worth $48,985,000 after purchasing an additional 665,076 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Down 0.9 %

FLEX stock opened at $31.97 on Monday. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The business’s 50 day simple moving average is $29.68 and its 200 day simple moving average is $27.81. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $12.84 billion, a PE ratio of 13.90, a PEG ratio of 2.14 and a beta of 1.13.

Flex (NASDAQ:FLEXGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. As a group, research analysts anticipate that Flex Ltd. will post 2.06 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Daniel Wendler sold 1,670 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total value of $54,325.10. Following the transaction, the chief accounting officer now owns 27,060 shares of the company’s stock, valued at $880,261.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total transaction of $231,257.87. Following the transaction, the insider now directly owns 159,718 shares of the company’s stock, valued at $4,601,475.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Wendler sold 1,670 shares of Flex stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total value of $54,325.10. Following the completion of the transaction, the chief accounting officer now directly owns 27,060 shares of the company’s stock, valued at $880,261.80. The disclosure for this sale can be found here. Insiders sold 442,684 shares of company stock worth $13,472,954 over the last three months. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group upped their target price on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. raised their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays upped their price objective on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Craig Hallum cut shares of Flex from a “buy” rating to a “hold” rating and decreased their target price for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

Get Our Latest Stock Report on FLEX

Flex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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