UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 497,307 Shares of Flex Ltd. (NASDAQ:FLEX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,681,792 shares of the technology company's stock after buying an additional 497,307 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.70% of Flex worth $102,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Flex during the 4th quarter worth about $35,000. R Squared Ltd purchased a new stake in shares of Flex during the 4th quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Flex by 112.9% during 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 stake in shares of Flex during the 4th quarter worth about $38,000. Finally, Huntington National Bank lifted its position in Flex by 46.7% during the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock worth $58,000 after acquiring an additional 478 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on FLEX. Wall Street Zen raised Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. KeyCorp boosted their price target on Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. The Goldman Sachs Group reduced their price target on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Barclays upped their target price on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex has a consensus rating of "Buy" and a consensus price target of $45.33.

Flex Stock Performance

Shares of NASDAQ FLEX traded up $1.00 during trading on Tuesday, reaching $42.48. The stock had a trading volume of 4,008,327 shares, compared to its average volume of 3,915,174. Flex Ltd. has a one year low of $25.11 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a market cap of $15.86 billion, a PE ratio of 17.13, a P/E/G ratio of 2.43 and a beta of 0.96. The firm's 50 day moving average price is $35.11 and its two-hundred day moving average price is $37.90.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the business earned $0.57 EPS. The business's quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity at Flex

In other news, CAO Daniel Wendler sold 4,502 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the completion of the sale, the chief accounting officer now directly owns 38,676 shares of the company's stock, valued at $1,624,005.24. This trade represents a 10.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Scott Offer sold 87,093 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total value of $3,172,797.99. Following the completion of the transaction, the executive vice president now directly owns 71,001 shares in the company, valued at $2,586,566.43. The trade was a 55.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 489,255 shares of company stock valued at $19,589,788 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Flex 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.