Andra AP fonden Buys Shares of 27,224 Flex Ltd. $FLEX

Andra AP fonden acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,224 shares of the technology company’s stock, valued at approximately $1,782,000.

A number of other large investors have also recently made changes to their positions in the company. Glenview Trust Co grew its stake in shares of Flex by 3.4% during the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after purchasing an additional 125 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in shares of Flex by 143.2% in the first quarter. Convergence Investment Partners LLC now owns 72,672 shares of the technology company’s stock valued at $4,757,000 after buying an additional 42,793 shares during the last quarter. JSF Financial LLC raised its stake in shares of Flex by 0.6% during the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after purchasing an additional 115 shares during the last quarter. KBC Group NV boosted its holdings in shares of Flex by 541.5% in the first quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after acquiring an additional 1,659,384 shares in the last quarter. Finally, SEB Asset Management AB acquired a new stake in shares of Flex in the 1st quarter valued at approximately $11,411,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 22,627 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the sale, the insider owned 253,199 shares in the company, valued at $36,582,191.52. This represents a 8.20% decrease in their ownership of the stock. The transaction 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 26,657 shares of Flex stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the transaction, the chief operating officer owned 257,527 shares in the company, valued at $37,207,500.96. This represents a 9.38% decrease in their position. 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 90 days, insiders sold 769,195 shares of company stock worth $110,116,823. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Flex Stock Performance

FLEX opened at $127.94 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The business has a 50 day moving average price of $141.76 and a two-hundred day moving average price of $97.82. Flex Ltd. has a 1-year low of $47.83 and a 1-year high of $166.86. The company has a market capitalization of $46.87 billion, a price-to-earnings ratio of 54.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.64.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion during the quarter. Research analysts predict that Flex Ltd. will post 4.18 EPS for the current fiscal year.

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.