Caitong International Asset Management Co. Ltd Purchases 4,692 Shares of Flex Ltd. $FLEX

Caitong International Asset Management Co. Ltd boosted its position in Flex Ltd. (NASDAQ:FLEX) by 42,654.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,703 shares of the technology company’s stock after buying an additional 4,692 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Flex were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. DGS Capital Management LLC grew its holdings in Flex by 16.3% during the 4th quarter. DGS Capital Management LLC now owns 6,525 shares of the technology company’s stock worth $394,000 after acquiring an additional 916 shares during the period. Investment Insight Wealth Management LLC acquired a new position in shares of Flex in the 4th quarter valued at about $211,000. Virtu Financial LLC bought a new stake in shares of Flex during the 4th quarter valued at about $1,319,000. Compound Planning Inc. grew its stake in Flex by 3.1% during the fourth quarter. Compound Planning Inc. now owns 13,653 shares of the technology company’s stock worth $825,000 after purchasing an additional 409 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in Flex by 93.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 536,230 shares of the technology company’s stock worth $32,726,000 after purchasing an additional 259,403 shares during the period. Institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FLEX shares. The Goldman Sachs Group increased their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Robert W. Baird set a $165.00 price target on shares of Flex in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Insider Activity

In other Flex news, insider Michael P. Hartung sold 22,216 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the sale, the insider directly owned 232,706 shares of the company’s stock, valued at approximately $33,132,680.28. The trade was a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,175 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 256,043 shares of the company’s stock, valued at approximately $36,452,841.91. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 433,924 shares of company stock valued at $61,663,653. 0.57% of the stock is currently owned by insiders.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $147.61 on Friday. Flex Ltd. has a twelve month low of $45.31 and a twelve month high of $166.86. The stock’s 50 day moving average is $123.64 and its 200-day moving average is $85.02. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $54.08 billion, a price-to-earnings ratio of 63.35, a PEG ratio of 0.78 and a beta of 1.64.

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

Flex 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.