J.Safra Asset Management Corp Boosts Stake in Flex Ltd. $FLEX

J.Safra Asset Management Corp boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 78.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,568 shares of the technology company’s stock after purchasing an additional 16,070 shares during the quarter. J.Safra Asset Management Corp’s holdings in Flex were worth $2,120,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FLEX. MTM Investment Management LLC purchased a new position in shares of Flex in the 2nd quarter valued at approximately $26,000. Concord Wealth Partners purchased a new position in Flex in the 2nd quarter valued at $28,000. CNB Bank acquired a new position in Flex in the 2nd quarter valued at $30,000. Harbour Investments Inc. raised its position in Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after buying an additional 301 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Flex by 404.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after acquiring an additional 566 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In related news, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the sale, the director owned 98,073 shares of the company’s stock, valued at $5,346,939.96. The trade was a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $64.26, for a total value of $963,900.00. Following the transaction, the insider directly owned 241,198 shares of the company’s stock, valued at $15,499,383.48. This represents a 5.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 128,906 shares of company stock valued at $7,904,439. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Argus set a $85.00 price objective on shares of Flex in a research report on Friday, October 31st. Raymond James Financial raised Flex from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Wednesday. KeyCorp increased their price objective on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.11.

Flex Price Performance

Shares of NASDAQ FLEX opened at $64.83 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22. The business has a 50 day simple moving average of $62.11 and a 200-day simple moving average of $57.94.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.