Flex Ltd. $FLEX Shares Bought by Daiwa Securities Group Inc.

Key Points

• Daiwa Securities Group Inc. increased its stake in Flex by 40.6% in the fourth quarter, ending with 79,733 shares valued at about $4.8 million.
• Several other hedge funds also adjusted their positions in Flex, and 94.3% of the stock is now held by institutional investors and hedge funds.
• Analysts remain broadly positive on Flex, with a Moderate Buy consensus and a mean price target of $115.70, even as some executives have recently sold shares.

Daiwa Securities Group Inc. grew its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,733 shares of the technology company's stock after acquiring an additional 23,025 shares during the period. Daiwa Securities Group Inc.'s holdings in Flex were worth $4,817,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FLEX. USA Financial Formulas acquired a new position in shares of Flex in the 4th quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Flex in the 4th quarter valued at about $28,000. CENTRAL TRUST Co boosted its holdings in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock valued at $29,000 after buying an additional 355 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Flex in the 4th quarter valued at about $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flex in the 3rd quarter valued at about $52,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Flex

In other Flex news, EVP David Scott Offer sold 33,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares in the company, valued at approximately $11,307,921.61. The trade was a 30.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 83,500 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $132.87, for a total transaction of $11,094,645.00. Following the sale, the chief executive officer owned 605,522 shares in the company, valued at $80,455,708.14. This trade represents a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 345,012 shares of company stock worth $48,508,103 over the last 90 days. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Zacks Research raised shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Robert W. Baird set a $165.00 price target on shares of Flex in a report on Thursday, May 7th. Stifel Nicolaus lifted their price target on shares of Flex from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, April 20th. Finally, Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $115.70.

Flex Trading Down 0.7%

Shares of NASDAQ:FLEX opened at $150.83 on Tuesday. The company has a market cap of $55.26 billion, a PE ratio of 64.73, a P/E/G ratio of 0.80 and a beta of 1.63. The company's 50-day moving average price is $109.29 and its 200 day moving average price is $79.53. Flex Ltd. has a fifty-two week low of $42.83 and a fifty-two week high of $166.86. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. Sell-side analysts anticipate that Flex Ltd. will post 4.15 earnings per share for the current year.

Flex 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.

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