Axa S.A. Acquires 21,561 Shares of Flex Ltd. (NASDAQ:FLEX)

AXA S.A. lifted its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 98.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,469 shares of the technology company's stock after purchasing an additional 21,561 shares during the quarter. AXA S.A.'s holdings in Flex were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wahed Invest LLC boosted its holdings in shares of Flex by 6.4% in the 4th quarter. Wahed Invest LLC now owns 10,258 shares of the technology company's stock worth $394,000 after acquiring an additional 621 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Flex in the fourth quarter worth about $9,244,000. Schonfeld Strategic Advisors LLC lifted its holdings in Flex by 168.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 39,860 shares of the technology company's stock valued at $1,530,000 after buying an additional 25,035 shares during the period. Lido Advisors LLC acquired a new stake in Flex during the 4th quarter worth $277,000. Finally, Northern Trust Corp increased its holdings in Flex by 89.1% in the fourth quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company's stock valued at $95,965,000 after purchasing an additional 1,177,923 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 4,502 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of the transaction, the chief accounting officer now directly owns 38,676 shares in the company, valued at approximately $1,624,005.24. This represents a 10.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kwang Hooi Tan sold 34,335 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $1,441,726.65. Following the completion of the sale, the chief operating officer now directly owns 262,313 shares in the company, valued at approximately $11,014,522.87. This represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 475,255 shares of company stock valued at $19,002,628 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Barclays upped their target price on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. KeyCorp lifted their price target on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Flex has a consensus rating of "Moderate Buy" and a consensus price target of $45.33.

Flex Stock Up 1.3%

FLEX stock traded up $0.53 during mid-day trading on Wednesday, reaching $42.38. The company had a trading volume of 1,138,890 shares, compared to its average volume of 3,934,387. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.43 and a beta of 0.96. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The stock has a 50 day simple moving average of $33.65 and a two-hundred day simple moving average of $37.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

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

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.