SBI Securities Co. Ltd. Acquires New Position in Flex Ltd. (NASDAQ:FLEX)

SBI Securities Co. Ltd. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 993 shares of the technology company’s stock, valued at approximately $38,000.

Several other institutional investors also recently bought and sold shares of FLEX. CWA Asset Management Group LLC purchased a new stake in Flex during the 3rd quarter valued at about $533,000. Assetmark Inc. boosted its holdings in shares of Flex by 15.2% during the 3rd quarter. Assetmark Inc. now owns 18,462 shares of the technology company’s stock valued at $617,000 after acquiring an additional 2,432 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Flex during the 3rd quarter valued at about $305,000. KBC Group NV boosted its holdings in shares of Flex by 10.3% during the 3rd quarter. KBC Group NV now owns 10,706 shares of the technology company’s stock valued at $358,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Barclays raised their price target 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, Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $44.33.

Flex Stock Performance

FLEX opened at $33.73 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.43 and a beta of 1.07. The company’s 50 day moving average is $40.48 and its 200 day moving average is $37.23. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10.

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

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the firm’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 transaction of $2,844,379.23. Following the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Flex Company 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.