XTX Topco Ltd Purchases New Position in Flex Ltd. (NASDAQ:FLEX)

XTX Topco Ltd bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 80,863 shares of the technology company's stock, valued at approximately $2,675,000.

Several other large investors have also recently bought and sold shares of FLEX. Vanguard Group Inc. increased its holdings in Flex by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock valued at $472,155,000 after buying an additional 817,215 shares during the period. Dimensional Fund Advisors LP increased its holdings in Flex by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after buying an additional 916,085 shares during the period. JPMorgan Chase & Co. increased its holdings in Flex by 6.0% in the 4th quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock valued at $246,006,000 after buying an additional 361,049 shares during the period. Invesco Ltd. increased its holdings in Flex by 42.9% in the 4th quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company's stock valued at $207,107,000 after buying an additional 1,620,812 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Flex by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,598,271 shares of the technology company's stock valued at $176,607,000 after buying an additional 132,457 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Price Performance

Shares of FLEX traded down $0.35 during trading hours on Friday, hitting $49.52. The stock had a trading volume of 3,793,825 shares, compared to its average volume of 4,164,309. The company's fifty day moving average is $47.62 and its two-hundred day moving average is $40.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $53.97. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.74 and a beta of 1.07.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.09. The business had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity at Flex

In related news, EVP David Scott Offer sold 35,394 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,517,340.78. Following the transaction, the executive vice president owned 140,013 shares in the company, valued at $6,002,357.31. This represents a 20.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 35,393 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total transaction of $1,517,297.91. Following the transaction, the insider owned 293,195 shares in the company, valued at approximately $12,569,269.65. This trade represents a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,061,348 shares of company stock worth $45,038,292 in the last 90 days. Corporate insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLEX shares. KeyCorp boosted their price target on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Barclays boosted their price target on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Wall Street Zen raised shares of Flex from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Stifel Nicolaus upped their target price on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, July 25th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flex presently has a consensus rating of "Buy" and an average price target of $53.71.

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.