Quantinno Capital Management LP lifted its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,283 shares of the technology company's stock after acquiring an additional 13,555 shares during the quarter. Quantinno Capital Management LP's holdings in Flex were worth $4,994,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FLEX. SummitTX Capital L.P. increased its stake in shares of Flex by 1.1% in the first quarter. SummitTX Capital L.P. now owns 122,995 shares of the technology company's stock valued at $8,051,000 after buying an additional 1,318 shares during the period. Lazard Asset Management LLC grew its holdings in Flex by 34.8% during the 1st quarter. Lazard Asset Management LLC now owns 431,680 shares of the technology company's stock worth $28,258,000 after acquiring an additional 111,354 shares during the last quarter. Castleark Management LLC increased its position in Flex by 85.3% in the 1st quarter. Castleark Management LLC now owns 10,580 shares of the technology company's stock valued at $693,000 after acquiring an additional 4,870 shares during the period. OMERS ADMINISTRATION Corp raised its stake in shares of Flex by 37.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 21,595 shares of the technology company's stock valued at $1,414,000 after acquiring an additional 5,840 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Flex during the first quarter worth $353,000. 94.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on FLEX shares. Raymond James Financial set a $170.00 price objective on Flex and gave the company an "outperform" rating in a report on Wednesday, July 29th. Barclays reduced their price target on Flex from $203.00 to $144.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Robert W. Baird set a $142.00 price target on Flex in a research note on Thursday, July 30th. Zacks Research downgraded Flex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Finally, KeyCorp lifted their price objective on Flex from $75.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $114.20.
Read Our Latest Analysis on FLEX
Insiders Place Their Bets
In other Flex news, CAO Daniel Wendler sold 1,311 shares of the firm's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the transaction, the chief accounting officer directly owned 37,932 shares of the company's stock, valued at approximately $5,507,726.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 7,269 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the sale, the insider directly owned 245,930 shares of the company's stock, valued at approximately $35,713,954.60. The trade was a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 754,195 shares of company stock worth $108,044,723 in the last quarter. Insiders own 0.62% of the company's stock.
Flex Stock Performance
Shares of FLEX opened at $122.65 on Friday. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86. The company has a market cap of $45.31 billion, a PE ratio of 47.36, a P/E/G ratio of 0.62 and a beta of 1.67. The stock has a 50-day moving average of $137.96 and a 200-day moving average of $101.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89.
Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. On average, equities research analysts predict that Flex Ltd. will post 4.27 EPS for the current fiscal year.
About Flex
(
Free Report)
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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