31,158 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 31,158 shares of the technology company’s stock, valued at approximately $1,219,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLEX. Creative Planning increased its stake in Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after acquiring an additional 839 shares during the period. Bleakley Financial Group LLC bought a new position in Flex during the third quarter valued at about $208,000. Raymond James & Associates increased its stake in Flex by 0.8% during the third quarter. Raymond James & Associates now owns 680,888 shares of the technology company’s stock valued at $22,762,000 after acquiring an additional 5,681 shares during the period. Whittier Trust Co. increased its stake in Flex by 79.4% during the third quarter. Whittier Trust Co. now owns 3,284 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,453 shares during the period. Finally, Foundations Investment Advisors LLC bought a new position in Flex during the third quarter valued at about $250,000. 94.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the company’s 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 transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Flex Stock Down 1.8 %

NASDAQ FLEX opened at $41.69 on Friday. The firm has a market cap of $15.97 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.49 and a beta of 1.10. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The stock’s 50 day simple moving average is $40.97 and its 200 day simple moving average is $36.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX) last released its quarterly 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, sell-side analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on FLEX shares. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Barclays upped their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $44.33.

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.