Flex Ltd. (NASDAQ:FLEX) Position Raised by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 21.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,273,164 shares of the technology company's stock after purchasing an additional 223,750 shares during the period. J. Safra Sarasin Holding AG owned approximately 0.33% of Flex worth $48,877,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FLEX. R Squared Ltd bought a new stake in Flex during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Flex during the fourth quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares during the last quarter. Huntington National Bank lifted its position in Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after acquiring an additional 478 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock worth $60,000 after purchasing an additional 704 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the sale, the insider now owns 233,526 shares of the company's stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Flex Stock Up 1.6 %

FLEX stock traded up $0.56 on Friday, hitting $35.22. 4,126,233 shares of the company's stock were exchanged, compared to its average volume of 3,981,392. The stock has a market cap of $13.49 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a 50 day moving average price of $34.03 and a two-hundred day moving average price of $37.34. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, equities research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FLEX. JPMorgan Chase & Co. dropped their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. KeyCorp reduced their price target on shares of Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Barclays raised their price target on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $43.67.

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.