Vontobel Holding Ltd. Acquires 36,082 Shares of Flex Ltd. (NASDAQ:FLEX)

Vontobel Holding Ltd. boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 21.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,902 shares of the technology company’s stock after acquiring an additional 36,082 shares during the quarter. Vontobel Holding Ltd.’s holdings in Flex were worth $6,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Troluce Capital Advisors LLC raised its position in Flex by 101.2% in the 3rd quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock worth $14,858,000 after purchasing an additional 48,097,992 shares during the period. Invesco Ltd. increased its position in shares of Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after acquiring an additional 5,741,044 shares during the period. Norges Bank purchased a new position in shares of Flex during the fourth quarter worth approximately $103,178,000. Millennium Management LLC increased its position in shares of Flex by 156.8% during the fourth quarter. Millennium Management LLC now owns 5,047,486 shares of the technology company’s stock worth $108,319,000 after acquiring an additional 3,081,799 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Flex by 580,549.0% during the second quarter. Point72 Asset Management L.P. now owns 2,525,823 shares of the technology company’s stock worth $69,814,000 after acquiring an additional 2,525,388 shares during the period. 94.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, StockNews.com initiated coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Flex has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Insider Buying and Selling at Flex

In other Flex news, insider Rebecca Sidelinger sold 13,675 shares of Flex stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total value of $382,763.25. Following the completion of the transaction, the insider now owns 161,913 shares of the company’s stock, valued at $4,531,944.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael P. Hartung sold 43,381 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the completion of the sale, the insider now owns 154,810 shares of the company’s stock, valued at $4,723,253.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca Sidelinger sold 13,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $27.99, for a total transaction of $382,763.25. Following the transaction, the insider now owns 161,913 shares in the company, valued at $4,531,944.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,943 shares of company stock valued at $4,055,311. Corporate insiders own 0.56% of the company’s stock.

Flex Trading Down 0.4 %

NASDAQ:FLEX opened at $28.08 on Thursday. Flex Ltd. has a 12 month low of $19.44 and a 12 month high of $30.93. The firm has a fifty day simple moving average of $28.35 and a 200-day simple moving average of $26.71. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $11.83 billion, a P/E ratio of 16.71, a PEG ratio of 1.74 and a beta of 1.19.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. On average, equities research analysts anticipate that Flex Ltd. will post 2.16 earnings per share for the current year.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.