Vise Technologies Inc. Has $2.31 Million Position in Flex Ltd. (NASDAQ:FLEX)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Flex by 42.6% during the third quarter. Barclays PLC now owns 774,856 shares of the technology company's stock worth $25,902,000 after buying an additional 231,572 shares in the last quarter. JPMorgan Chase & Co. grew its position in Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after buying an additional 296,505 shares in the last quarter. HB Wealth Management LLC acquired a new stake in Flex during the fourth quarter worth about $220,000. UMB Bank n.a. acquired a new stake in Flex during the fourth quarter worth about $64,000. Finally, Atomi Financial Group Inc. grew its position in Flex by 6.4% during the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company's stock worth $400,000 after buying an additional 630 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Price 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 52 week low of $25.11 and a 52 week high of $45.10. The business's 50-day moving average price is $35.11 and its 200 day moving average price is $37.90. 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 stock has a market capitalization of $15.86 billion, a PE ratio of 17.13, a P/E/G ratio of 2.43 and a beta of 0.96.

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

Insiders Place Their Bets

In related news, CAO Daniel Wendler sold 4,502 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erin Mcsweeney sold 14,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $41.94, for a total transaction of $587,160.00. Following the sale, the director now owns 22,299 shares in the company, valued at $935,220.06. This trade represents a 38.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 489,255 shares of company stock valued at $19,589,788. Company insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FLEX shares. KeyCorp raised their price target on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group cut 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. Finally, Wall Street Zen upgraded shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex has a consensus rating of "Buy" and a consensus price target of $45.33.

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.