Flex Ltd. (NASDAQ:FLEX) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,902 shares of the technology company's stock after acquiring an additional 36,082 shares during the period. Vontobel Holding Ltd.'s holdings in Flex were worth $6,150,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Flex from $32.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. StockNews.com initiated coverage on shares of Flex in a report on Wednesday, March 6th. They set a "hold" rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Flex from $29.00 to $37.00 and gave the company a "buy" rating in a report on Monday, March 4th. One investment 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 price target of $34.20.

Insider Buying and Selling at Flex

In other Flex news, insider Rebecca Sidelinger sold 13,675 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the transaction, the insider now owns 161,913 shares in the company, valued at $4,531,944.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Flex news, insider Rebecca Sidelinger sold 13,675 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the transaction, the insider now owns 161,913 shares in the company, valued at $4,531,944.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 43,381 shares of the business's 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 in the company, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. Insiders have sold 141,943 shares of company stock worth $4,055,311 over the last quarter. Insiders own 0.56% of the company's stock.

Flex Price Performance

Shares of FLEX stock traded down $0.45 on Thursday, reaching $27.63. The company's stock had a trading volume of 3,598,670 shares, compared to its average volume of 4,979,266. The stock's fifty day simple moving average is $28.35 and its 200-day simple moving average is $26.71. Flex Ltd. has a 1 year low of $19.44 and a 1 year high of $30.93. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19.

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

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.