Flex Ltd. (NASDAQ:FLEX) Shares Bought by Vise Technologies Inc.

Vise Technologies Inc. increased its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 114.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,036 shares of the technology company's stock after buying an additional 32,021 shares during the period. Vise Technologies Inc.'s holdings in Flex were worth $2,305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Flex by 22.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,681,792 shares of the technology company's stock worth $102,954,000 after buying an additional 497,307 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Flex during the 4th quarter worth about $35,121,000. Vident Advisory LLC purchased a new stake in Flex in the fourth quarter valued at approximately $247,000. Soviero Asset Management LP purchased a new stake in Flex in the fourth quarter valued at approximately $4,031,000. Finally, Tidal Investments LLC acquired a new position in Flex during the fourth quarter worth approximately $325,000. Hedge funds and other institutional investors own 94.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLEX shares. Barclays boosted their price target on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. KeyCorp boosted their target price on Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target on the stock. Wall Street Zen upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $45.33.

Insider Activity

In related news, EVP David Scott Offer sold 87,093 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the transaction, the executive vice president now owns 71,001 shares in the company, valued at $2,586,566.43. The trade was a 55.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erin Mcsweeney sold 14,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $41.94, for a total value of $587,160.00. Following the completion of the sale, the director now directly owns 22,299 shares in the company, valued at $935,220.06. This represents a 38.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 489,255 shares of company stock valued at $19,589,788. Company insiders own 0.82% of the company's stock.

Flex Stock Down 0.6%

Shares of FLEX traded down $0.23 during trading on Thursday, reaching $41.85. The company's stock had a trading volume of 1,197,133 shares, compared to its average volume of 3,896,492. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $35.36 and a two-hundred day moving average of $37.96. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 2.43 and a beta of 0.96. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10.

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, sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.