Natixis Advisors LLC Boosts Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Key Points

• Natixis Advisors LLC increased its holdings in Flex Ltd. by 21.5%, owning 70,742 shares valued at approximately $2.34 million after acquiring an additional 12,503 shares.
• Flex's stock price reached $50.34 after trading up by 1.3%, with a trading volume of 3,400,963 shares compared to an average of 4,227,588.
• Research analysts have a positive outlook on Flex, with recommendations ranging from "buy" to "overweight," and a consensus target price of $53.71.

Natixis Advisors LLC increased its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 21.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,742 shares of the technology company's stock after buying an additional 12,503 shares during the period. Natixis Advisors LLC's holdings in Flex were worth $2,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evergreen Capital Management LLC boosted its stake in Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after purchasing an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Flex by 2.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after purchasing an additional 266 shares in the last quarter. Dynasty Wealth Management LLC lifted its position in Flex by 0.7% during the first quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company's stock valued at $1,232,000 after purchasing an additional 276 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Flex by 30.8% in the first quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock valued at $43,000 after acquiring an additional 306 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Flex by 2.7% in the first quarter. Stephens Inc. AR now owns 12,634 shares of the technology company's stock valued at $418,000 after acquiring an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Transactions at Flex

In other news, CEO Revathi Advaithi sold 37,465 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $1,686,299.65. Following the sale, the chief executive officer owned 1,363,312 shares of the company's stock, valued at approximately $61,362,673.12. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kwang Hooi Tan sold 12,500 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $50.25, for a total transaction of $628,125.00. Following the transaction, the chief operating officer owned 263,636 shares of the company's stock, valued at approximately $13,247,709. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 941,068 shares of company stock worth $40,456,827 in the last three months. Company insiders own 0.57% of the company's stock.

Flex Price Performance

Shares of NASDAQ:FLEX traded up $0.63 during trading on Friday, reaching $50.34. 3,400,963 shares of the company's stock traded hands, compared to its average volume of 4,227,588. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $53.97. The firm has a market cap of $18.89 billion, a PE ratio of 22.08, a P/E/G ratio of 1.71 and a beta of 1.05. The company has a 50-day simple moving average of $48.77 and a 200-day simple moving average of $41.22.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The business had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. As a group, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLEX has been the topic of several research reports. Bank of America lifted their target price on Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. KGI Securities lowered Flex from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Flex from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. KeyCorp boosted their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upped their target price on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $53.71.

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.