Flex Ltd. (NASDAQ:FLEX) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,080 shares of the technology company's stock after buying an additional 6,177 shares during the period. Assenagon Asset Management S.A.'s holdings in Flex were worth $2,153,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FLEX. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Flex during the fourth quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Flex by 112.9% in 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. SBI Securities Co. Ltd. purchased a new position in Flex during the fourth quarter valued at $38,000. Huntington National Bank lifted its position in Flex by 46.7% during the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after purchasing an additional 478 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock valued at $60,000 after buying an additional 704 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FLEX shares. KeyCorp restated an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. Barclays boosted their target price on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group cut their price target 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. Bank of America upped their price target on shares of Flex from $48.00 to $50.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Wall Street Zen raised shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $46.00.

Flex Stock Up 2.0%

Shares of FLEX traded up $0.91 during mid-day trading on Thursday, hitting $46.18. The company's stock had a trading volume of 5,223,905 shares, compared to its average volume of 3,891,576. The company's 50-day moving average is $39.11 and its 200-day moving average is $38.48. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $46.90. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.71 and a beta of 1.04. 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 (NASDAQ:FLEX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.25% and a return on equity of 19.01%. The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. Flex's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Daniel Wendler sold 884 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $43.52, for a total value of $38,471.68. Following the sale, the chief accounting officer now owns 48,864 shares in the company, valued at $2,126,561.28. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Revathi Advaithi sold 120,280 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $38.09, for a total transaction of $4,581,465.20. Following the completion of the sale, the chief executive officer now owns 1,112,193 shares in the company, valued at $42,363,431.37. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,074,948 shares of company stock valued at $44,837,670. Insiders own 0.82% of the company's stock.

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.