Deltec Asset Management LLC Has $5.43 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Deltec Asset Management LLC grew its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,219 shares of the technology company's stock after purchasing an additional 15,000 shares during the quarter. Flex comprises approximately 1.2% of Deltec Asset Management LLC's holdings, making the stock its 23rd largest holding. Deltec Asset Management LLC's holdings in Flex were worth $5,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional bought a new position in Flex during the 1st quarter worth approximately $29,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Flex during the 4th quarter worth approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in 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 buying an additional 509 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Flex during the 4th quarter worth approximately $38,000. Finally, Huntington National Bank raised its holdings in Flex by 46.7% during the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock worth $58,000 after buying an additional 478 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FLEX. Bank of America raised their target price on shares of Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. KeyCorp restated an "overweight" rating on shares of Flex in a report on Tuesday, June 3rd. JPMorgan Chase & Co. dropped their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group dropped their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Wall Street Zen upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $46.00.

Insiders Place Their Bets

In other news, CAO Daniel Wendler sold 1,245 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $56,037.45. Following the completion of the sale, the chief accounting officer now owns 47,619 shares of the company's stock, valued at approximately $2,143,331.19. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael P. Hartung sold 32,173 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were 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 directly owns 270,483 shares of the company's stock, valued at approximately $11,357,581.17. The trade was a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,135,941 shares of company stock valued at $47,582,965 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

Flex Stock Down 0.3%

Shares of NASDAQ FLEX traded down $0.15 during midday trading on Friday, reaching $46.03. The company's stock had a trading volume of 6,065,247 shares, compared to its average volume of 3,887,741. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 0.50. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $46.90. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.71 and a beta of 1.04. The stock has a 50 day simple moving average of $39.44 and a 200-day simple moving average of $38.52.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. Flex had a net margin of 3.25% and a return on equity of 19.01%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Equities research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

About Flex

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.