Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 10.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,080 shares of the technology company’s stock after acquiring an additional 6,177 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Flex were worth $2,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FLEX. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Flex during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in shares of Flex during the 4th quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after purchasing an additional 509 shares during the period. GAMMA Investing LLC boosted its position in shares of Flex by 231.2% during the 1st quarter. GAMMA Investing LLC now owns 1,636 shares of the technology company’s stock valued at $54,000 after acquiring an additional 1,142 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Flex by 21,475.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,726 shares of the technology company’s stock worth $57,000 after buying an additional 1,718 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. KeyCorp restated an “overweight” rating on shares of Flex in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. lowered their target price on Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Bank of America boosted their price target on shares of Flex from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Wall Street Zen raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 28th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flex presently has an average rating of “Buy” and an average price target of $46.00.

Flex Stock Performance

NASDAQ:FLEX opened at $43.91 on Tuesday. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.43 and a beta of 1.04. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a fifty day moving average price of $38.21 and a 200-day moving average price of $38.33.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. Flex’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, EVP David Scott Offer sold 87,093 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.43, for a total value of $3,172,797.99. Following the completion of the transaction, the executive vice president now owns 71,001 shares of the company’s stock, valued at $2,586,566.43. This represents a 55.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Wendler sold 4,502 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the sale, the chief accounting officer now directly owns 38,676 shares in the company, valued at $1,624,005.24. The trade was a 10.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,074,948 shares of company stock worth $44,837,670 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Flex 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.