IFM Investors Pty Ltd Buys 4,398 Shares of Flex Ltd. $FLEX

IFM Investors Pty Ltd boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 5.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 82,196 shares of the technology company’s stock after buying an additional 4,398 shares during the period. IFM Investors Pty Ltd’s holdings in Flex were worth $5,381,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the period. Parallel Advisors LLC grew its holdings in Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock valued at $208,000 after purchasing an additional 181 shares during the period. Fred Alger Management LLC increased its position in Flex by 0.7% in the fourth quarter. Fred Alger Management LLC now owns 30,881 shares of the technology company’s stock worth $1,866,000 after buying an additional 210 shares during the last quarter. Parcion Private Wealth LLC raised its stake in shares of Flex by 1.5% in the fourth quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock valued at $855,000 after buying an additional 216 shares during the period. Finally, US Bancorp DE lifted its position in shares of Flex by 1.2% during the 3rd quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock valued at $1,144,000 after buying an additional 225 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 1,311 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the completion of the transaction, the chief accounting officer directly owned 37,932 shares of the company’s stock, valued at $5,507,726.40. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 8,981 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the transaction, the chief operating officer owned 248,546 shares of the company’s stock, valued at $36,086,393.74. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 769,195 shares of company stock worth $110,116,823. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FLEX shares. Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. The Goldman Sachs Group increased their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Stifel Nicolaus lifted their target price on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Robert W. Baird set a $165.00 price target on shares of Flex in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Stock Performance

Shares of FLEX opened at $136.85 on Friday. Flex Ltd. has a 52-week low of $47.83 and a 52-week high of $166.86. The stock’s 50-day simple moving average is $137.84 and its 200 day simple moving average is $91.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The stock has a market capitalization of $50.14 billion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64.

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

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.