Vontobel Holding Ltd. lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,925 shares of the technology company's stock after selling 8,045 shares during the quarter. Vontobel Holding Ltd.'s holdings in Flex were worth $2,185,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in shares of Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company's stock worth $4,726,000 after purchasing an additional 839 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Flex during the third quarter worth about $208,000. Net Worth Advisory Group acquired a new stake in Flex during the third quarter worth about $323,000. Raymond James & Associates increased its holdings in Flex by 0.8% in the 3rd quarter. Raymond James & Associates now owns 680,888 shares of the technology company's stock valued at $22,762,000 after buying an additional 5,681 shares during the period. Finally, Whittier Trust Co. raised its position in shares of Flex by 79.4% in the 3rd quarter. Whittier Trust Co. now owns 3,284 shares of the technology company's stock valued at $110,000 after buying an additional 1,453 shares in the last quarter. Institutional investors own 94.30% of the company's stock.
Insider Buying and Selling
In other news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.
Flex Trading Down 3.2 %
NASDAQ FLEX traded down $1.34 on Friday, hitting $40.35. The company's stock had a trading volume of 3,552,565 shares, compared to its average volume of 3,452,899. The company's 50-day moving average is $41.01 and its 200 day moving average is $36.66. The firm has a market cap of $15.46 billion, a PE ratio of 16.27, a PEG ratio of 2.48 and a beta of 1.10. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.
Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on FLEX. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Craig Hallum lifted their price target on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays upped their price objective on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $44.33.
Check Out Our Latest Report on Flex
About Flex
(
Free Report)
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.
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