16,424 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Avanza Fonder AB

Avanza Fonder AB bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 16,424 shares of the technology company's stock, valued at approximately $559,000.

Several other large investors have also made changes to their positions in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex in the 4th quarter worth $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Flex during the 4th quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after purchasing an additional 509 shares during the period. GAMMA Investing LLC grew its holdings 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 worth $54,000 after purchasing an additional 1,142 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings 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 purchasing an additional 1,718 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of NASDAQ:FLEX traded down $0.44 during trading on Friday, reaching $43.13. The company had a trading volume of 3,086,566 shares, compared to its average volume of 3,881,059. The stock's fifty day moving average price is $37.88 and its 200 day moving average price is $38.30. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. 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 posted its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The company 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%. Flex's revenue 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 research analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America raised their target price on Flex from $48.00 to $50.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Barclays lifted their price objective on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, KeyCorp restated an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $46.00.

Insider Transactions at Flex

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

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.