Nomura Holdings Inc. Invests $1.22 Million in Flex Ltd. (NASDAQ:FLEX)

Nomura Holdings Inc. acquired a new position in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 40,000 shares of the technology company’s stock, valued at approximately $1,218,000.

A number of other large investors have also recently made changes to their positions in FLEX. Troluce Capital Advisors LLC grew its position in shares of 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 buying an additional 48,097,992 shares during the last quarter. Norges Bank bought a new stake in shares of Flex in the 4th quarter worth approximately $165,000,000. Schonfeld Strategic Advisors LLC grew its position in shares of Flex by 211.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock worth $38,032,000 after buying an additional 956,676 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Flex by 63.9% during the fourth quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after purchasing an additional 944,928 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Flex by 57.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock valued at $48,985,000 after purchasing an additional 665,076 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FLEX has been the topic of several research reports. The Goldman Sachs Group lifted their price target on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays lifted their price target on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Flex Stock Up 0.1 %

Shares of NASDAQ:FLEX opened at $31.62 on Thursday. The stock has a fifty day simple moving average of $30.19 and a two-hundred day simple moving average of $28.12. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.11 and a beta of 1.13. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. On average, research analysts anticipate that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the completion of the transaction, the chief accounting officer now owns 32,510 shares in the company, valued at $1,017,563. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the completion of the transaction, the chief accounting officer now owns 32,510 shares in the company, valued at $1,017,563. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Scott Offer sold 7,037 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $31.30, for a total value of $220,258.10. Following the sale, the executive vice president now owns 171,344 shares of the company’s stock, valued at approximately $5,363,067.20. The disclosure for this sale can be found here. Insiders sold 804,542 shares of company stock worth $25,147,972 over the last quarter. 0.56% of the stock is currently owned by insiders.

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.