Andra AP fonden Invests $1.78 Million in Flex Ltd. $FLEX

Andra AP fonden acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 27,224 shares of the technology company’s stock, valued at approximately $1,782,000.

A number of other institutional investors have also recently bought and sold shares of FLEX. Vanguard Group Inc. increased its position in Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares in the last quarter. Norges Bank acquired a new stake in shares of Flex in the fourth quarter valued at about $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Flex in the 4th quarter valued at approximately $2,497,000. Sequoia Financial Advisors LLC lifted its stake in Flex by 12.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock valued at $10,469,000 after purchasing an additional 19,270 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock worth $20,566,000 after purchasing an additional 130,641 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Stock Up 0.7%

Shares of NASDAQ FLEX opened at $127.94 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 market cap of $46.87 billion, a price-to-earnings ratio of 54.91, a PEG ratio of 0.66 and a beta of 1.64. The firm’s fifty day moving average is $141.76 and its 200 day moving average is $97.82. Flex Ltd. has a 52 week low of $47.83 and a 52 week high of $166.86.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) 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. On average, equities research analysts expect that Flex Ltd. will post 4.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays raised their target price on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. The Goldman Sachs Group increased their price target on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Insiders Place Their Bets

In other news, CEO Revathi Advaithi sold 39,188 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.18, for a total transaction of $5,689,313.84. Following the sale, the chief executive officer directly owned 584,278 shares in the company, valued at $84,825,480.04. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 6,657 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.23, for a total transaction of $966,796.11. Following the sale, the executive vice president directly owned 91,122 shares of the company’s stock, valued at $13,233,648.06. This represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by corporate insiders.

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.