Vontobel Holding Ltd. Reduces Stock Position in Flex Ltd. (NASDAQ:FLEX)

Vontobel Holding Ltd. reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 quarter.

A number of other institutional investors also recently modified their holdings of FLEX. Asset Management One Co. Ltd. purchased a new stake in Flex in the 4th quarter worth approximately $1,219,000. Louisiana State Employees Retirement System bought a new position in shares of Flex in the 4th quarter worth $4,131,000. Sather Financial Group Inc bought a new position in shares of Flex in the 4th quarter worth $207,000. BayBridge Capital Group LLC bought a new position in shares of Flex in the 4th quarter worth $406,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Flex in the 4th quarter worth $1,697,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday. KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Barclays increased their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $44.33.

Flex Trading Up 0.3 %

Shares of FLEX opened at $42.51 on Tuesday. The stock has a market capitalization of $16.29 billion, a P/E ratio of 17.14, a PEG ratio of 2.58 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $40.72 and a two-hundred day simple moving average of $36.40. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate 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.