Fullerton Fund Management Co Ltd. Purchases Shares of 4,308 Flex Ltd. $FLEX

Fullerton Fund Management Co Ltd. purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,308 shares of the technology company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Magnetar Financial LLC purchased a new stake in Flex in the 4th quarter valued at about $1,518,000. Copley Financial Group Inc. purchased a new stake in Flex in the 4th quarter valued at about $388,000. Polar Capital Holdings Plc grew its holdings in Flex by 141.8% in the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after buying an additional 2,165,780 shares during the period. Waterway Wealth Management LLC purchased a new stake in Flex in the 4th quarter valued at about $1,164,000. Finally, Cynosure Group LLC purchased a new stake in Flex in the 4th quarter valued at about $442,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Stock Performance

Flex stock opened at $146.93 on Wednesday. The stock’s 50 day moving average price is $119.05 and its 200 day moving average price is $83.35. The firm has a market capitalization of $53.83 billion, a PE ratio of 63.06, a price-to-earnings-growth ratio of 0.79 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. Flex Ltd. has a one year low of $43.62 and a one year high of $166.86.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, sell-side analysts expect that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles K. Stevens III sold 15,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares in the company, valued at $6,275,147.64. This represents a 24.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kwang Hooi Tan sold 26,175 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total value of $3,726,534.75. Following the transaction, the chief operating officer owned 256,043 shares of the company’s stock, valued at approximately $36,452,841.91. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 345,012 shares of company stock worth $48,508,103 over the last 90 days. Insiders own 0.57% of the company’s stock.

About Flex

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.