Provident Co of the Employees of the Hebrew University LTD Invests $2.03 Million in Flex Ltd. (NASDAQ:FLEX)

Provident Co of the Employees of the Hebrew University LTD acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 61,330 shares of the technology company's stock, valued at approximately $2,028,000. Flex comprises approximately 2.3% of Provident Co of the Employees of the Hebrew University LTD's portfolio, making the stock its 18th biggest holding.

Other large investors also recently bought and sold shares of the company. CX Institutional purchased a new stake in shares of Flex during the 1st quarter valued at about $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Flex in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Flex during the fourth quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Flex by 231.2% in 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 last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insiders Place Their Bets

In other news, COO Kwang Hooi Tan sold 37,533 shares of Flex stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,609,039.71. Following the completion of the sale, the chief operating officer owned 269,151 shares in the company, valued at $11,538,503.37. The trade was a 12.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Hartung sold 35,393 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total value of $1,517,297.91. Following the completion of the transaction, the insider directly owned 293,195 shares in the company, valued at $12,569,269.65. The trade was a 10.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,135,941 shares of company stock valued at $47,582,965. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FLEX has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group reduced their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Bank of America lifted their price target on Flex from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Barclays lifted their price objective on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered Flex from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $48.29.

Flex Stock Performance

Shares of NASDAQ:FLEX traded up $0.91 during trading on Friday, reaching $51.65. The stock had a trading volume of 2,764,362 shares, compared to its average volume of 4,014,404. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $42.94 and a two-hundred day simple moving average of $39.30. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 1.92 and a beta of 1.07. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $52.17.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.22 billion. During the same period last year, the business posted $0.57 EPS. The business's quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal 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.