International Assets Investment Management LLC Buys Shares of 165,977 Flex Ltd. (NASDAQ:FLEX)

International Assets Investment Management LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 165,977 shares of the technology company's stock, valued at approximately $5,449,000.

A number of other institutional investors also recently modified their holdings of the business. Troluce Capital Advisors LLC lifted its stake in Flex by 101.2% in the 3rd quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company's stock worth $14,858,000 after purchasing an additional 48,097,992 shares in the last quarter. Invesco Ltd. lifted its stake in Flex by 119.3% in the 1st quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company's stock worth $195,729,000 after purchasing an additional 5,741,044 shares in the last quarter. Norges Bank purchased a new stake in Flex in the 4th quarter worth approximately $103,178,000. Millennium Management LLC lifted its stake in Flex by 156.8% in the 4th quarter. Millennium Management LLC now owns 5,047,486 shares of the technology company's stock worth $108,319,000 after purchasing an additional 3,081,799 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Flex by 580,549.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,525,823 shares of the technology company's stock worth $69,814,000 after purchasing an additional 2,525,388 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FLEX shares. StockNews.com started coverage on shares of Flex in a report on Wednesday, March 6th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Flex from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group increased their price target on shares of Flex from $29.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.

Flex Trading Up 0.4 %

Shares of FLEX stock traded up $0.12 on Tuesday, hitting $28.20. 2,704,860 shares of the company's stock traded hands, compared to its average volume of 5,031,694. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. Flex Ltd. has a one year low of $19.44 and a one year high of $30.93. The company's fifty day simple moving average is $28.20 and its 200 day simple moving average is $26.69. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.76 and a beta of 1.20.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Equities analysts forecast that Flex Ltd. will post 2.16 EPS for the current year.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the transaction, the insider now owns 154,810 shares of the company's stock, valued at approximately $4,723,253.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Flex news, EVP David Scott Offer sold 75,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the sale, the executive vice president now owns 162,094 shares of the company's stock, valued at approximately $4,460,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael P. Hartung sold 43,381 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the sale, the insider now directly owns 154,810 shares of the company's stock, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,943 shares of company stock valued at $4,055,311. Insiders own 0.56% of the company's stock.

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.