Vise Technologies Inc. Grows Stock Position in Flex Ltd. (NASDAQ:FLEX)

Vise Technologies Inc. lifted its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 114.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,036 shares of the technology company's stock after acquiring an additional 32,021 shares during the quarter. Vise Technologies Inc.'s holdings in Flex were worth $2,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FLEX. R Squared Ltd purchased a new stake in shares of Flex during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex in the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in Flex in the 4th quarter valued at $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after purchasing an additional 509 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after purchasing an additional 478 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FLEX shares. Stifel Nicolaus initiated coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price for the company. KeyCorp increased their price objective on shares of Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group lowered their target price on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays upped their target price on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $45.33.

Flex Trading Down 0.9%

FLEX traded down $0.40 during trading hours on Wednesday, reaching $42.08. The company's stock had a trading volume of 2,537,716 shares, compared to its average volume of 3,909,687. The stock has a market cap of $15.71 billion, a PE ratio of 16.97, a P/E/G ratio of 2.43 and a beta of 0.96. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The business's 50-day moving average is $35.24 and its 200-day moving average is $37.93.

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