Flex Ltd. $FLEX Shares Purchased by Capital World Investors

Capital World Investors grew its holdings in Flex Ltd. (NASDAQ:FLEX) by 41.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,893 shares of the technology company’s stock after acquiring an additional 60,482 shares during the period. Capital World Investors owned about 0.06% of Flex worth $12,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of FLEX. USA Financial Formulas acquired a new position in shares of Flex in the fourth quarter worth $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Flex in the fourth quarter worth $28,000. CENTRAL TRUST Co grew its stake in shares of Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Flex in the fourth quarter worth $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flex in the third quarter worth $52,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $153.91, for a total value of $5,079,030.00. Following the completion of the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at $11,307,921.61. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,216 shares of the business’s stock in a transaction on Monday, May 11th. The shares were 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. This trade represents a 8.71% 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 valued at $48,508,103 over the last quarter. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FLEX has been the subject of several research reports. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. boosted 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. Barclays boosted their target price on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. The Goldman Sachs Group boosted their target price on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus boosted 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. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Stock Performance

Shares of FLEX stock opened at $147.21 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $110.93 and a 200 day moving average price of $80.15. The company has a market cap of $53.93 billion, a P/E ratio of 63.18, a PEG ratio of 0.79 and a beta of 1.64. Flex Ltd. has a 12 month low of $42.83 and a 12 month high of $166.86.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm 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 predict that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex announced it will join the S&P 500 effective before the open on June 22, a major milestone that should boost visibility, broaden institutional ownership, and increase demand from index-tracking funds. Flex to Join S&P 500 Index
• Positive Sentiment: Barclays raised its price target on Flex to $203 from $174 and kept an Overweight rating, citing strength in the company’s AI-related businesses and other segments. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
• Positive Sentiment: Investors are also reacting to bullish commentary that Flex is being re-rated as an AI infrastructure beneficiary, with its CPI segment and planned spin-off seen as potential value drivers. The AI Kingdom Expands As Flex Joins The S&P 500
• Neutral Sentiment: Short-interest data showed no meaningful change, so it does not appear to be a major driver of the move today.

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.