Bank of America Corp DE Buys 498,389 Shares of Flex Ltd. (NASDAQ:FLEX)

Bank of America Corp DE raised its stake in shares of Flex Ltd. (NASDAQ:FLEXGet Rating) by 5.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 10,042,495 shares of the technology company’s stock after purchasing an additional 498,389 shares during the period. Bank of America Corp DE’s holdings in Flex were worth $186,289,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in Flex by 9.2% during the first quarter. Victory Capital Management Inc. now owns 21,382,355 shares of the technology company’s stock valued at $396,643,000 after purchasing an additional 1,800,973 shares during the period. Alliancebernstein L.P. lifted its position in shares of Flex by 7.2% in the fourth quarter. Alliancebernstein L.P. now owns 21,008,183 shares of the technology company’s stock valued at $385,080,000 after acquiring an additional 1,414,461 shares in the last quarter. Lyrical Asset Management LP lifted its position in shares of Flex by 1.2% in the first quarter. Lyrical Asset Management LP now owns 13,746,411 shares of the technology company’s stock valued at $254,996,000 after acquiring an additional 162,876 shares in the last quarter. Boston Partners lifted its position in shares of Flex by 16.4% in the first quarter. Boston Partners now owns 13,263,113 shares of the technology company’s stock valued at $245,975,000 after acquiring an additional 1,866,361 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Flex by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,035,531 shares of the technology company’s stock valued at $204,669,000 after acquiring an additional 176,865 shares in the last quarter. Institutional investors own 95.01% of the company’s stock.

Flex Price Performance

NASDAQ:FLEX opened at $17.87 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.68 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $8.15 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.79 and a beta of 1.49. Flex Ltd. has a 12 month low of $13.63 and a 12 month high of $19.63. The business’s 50-day moving average is $17.39 and its 200 day moving average is $16.68.

Insider Buying and Selling

In related news, CFO Paul Lundstrom sold 56,868 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $17.64, for a total value of $1,003,151.52. Following the sale, the chief financial officer now directly owns 326,798 shares in the company, valued at $5,764,716.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Flex news, CFO Paul Lundstrom sold 56,868 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $17.64, for a total transaction of $1,003,151.52. Following the sale, the chief financial officer now directly owns 326,798 shares of the company’s stock, valued at $5,764,716.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Scott Offer sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $19.19, for a total value of $2,302,800.00. Following the sale, the executive vice president now directly owns 262,164 shares in the company, valued at $5,030,927.16. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FLEX shares. The Goldman Sachs Group lowered their price objective on Flex from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Credit Suisse Group initiated coverage on Flex in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Saturday, August 6th.

Flex Company Profile

(Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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