Caisse DE Depot ET Placement DU Quebec Purchases Shares of 240,800 Flex Ltd. (NASDAQ:FLEX)

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 240,800 shares of the technology company’s stock, valued at approximately $9,244,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Flex as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FLEX. Schonfeld Strategic Advisors LLC raised its holdings in shares of Flex by 168.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 39,860 shares of the technology company’s stock valued at $1,530,000 after purchasing an additional 25,035 shares in the last quarter. Lido Advisors LLC acquired a new stake in Flex in the fourth quarter valued at $277,000. Northern Trust Corp lifted its holdings in Flex by 89.1% during the 4th quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company’s stock worth $95,965,000 after buying an additional 1,177,923 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Flex by 889.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 244,142 shares of the technology company’s stock worth $9,375,000 after acquiring an additional 219,473 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Flex in the 4th quarter valued at about $317,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex 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 completion of the sale, the insider now directly 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, EVP David Scott Offer sold 87,093 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total value of $3,172,797.99. Following the completion of the sale, the executive vice president now owns 71,001 shares in the company, valued at approximately $2,586,566.43. This represents a 55.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,900 shares of company stock valued at $8,179,677. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. KeyCorp decreased their price objective on Flex from $46.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Barclays lifted 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. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target for the company. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.67.

Flex Stock Up 3.9 %

Shares of Flex stock opened at $36.74 on Friday. The company has a market cap of $14.08 billion, a P/E ratio of 14.81, a PEG ratio of 2.43 and a beta of 0.99. The firm has a fifty day moving average of $33.52 and a two-hundred day moving average of $37.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a one year low of $25.11 and a one year high of $45.10.

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

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.