878 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by CX Institutional

CX Institutional acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 878 shares of the technology company’s stock, valued at approximately $29,000.

Several other hedge funds also recently made changes to their positions in the company. Boston Partners boosted its holdings in Flex by 2.2% in the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after purchasing an additional 569,916 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Flex by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock valued at $472,155,000 after buying an additional 817,215 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Flex by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company’s stock valued at $326,833,000 after buying an additional 916,085 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Flex by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company’s stock worth $246,006,000 after acquiring an additional 361,049 shares during the period. Finally, Norges Bank bought a new position in Flex in the fourth quarter worth about $229,484,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on Flex from $53.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their target price on Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Bank of America boosted their price target on shares of Flex from $48.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 9th. Finally, Wall Street Zen raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 28th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $46.00.

Insider Activity at Flex

In other news, CEO Revathi Advaithi sold 25,593 shares of Flex stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $43.48, for a total value of $1,112,783.64. Following the transaction, the chief executive officer now owns 1,400,777 shares of the company’s stock, valued at $60,905,783.96. The trade was a 1.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael P. Hartung sold 32,173 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 $1,350,944.27. Following the completion of the sale, the insider now owns 270,483 shares in the company, valued at $11,357,581.17. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,074,948 shares of company stock worth $44,837,670 over the last quarter. 0.82% of the stock is currently owned by company insiders.

Flex Trading Up 3.1%

Shares of FLEX stock opened at $45.27 on Wednesday. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $45.84. The firm has a market capitalization of $16.90 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.04. The stock has a fifty day moving average of $38.48 and a two-hundred day moving average of $38.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.79 and a current ratio of 1.30.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.22 billion. Flex had a net margin of 3.25% and a return on equity of 19.01%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. As a group, research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

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.