Danske Bank A S boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 297.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 113,700 shares of the technology company’s stock after acquiring an additional 85,076 shares during the quarter. Danske Bank A S’s holdings in Flex were worth $6,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of FLEX. Vanguard Group Inc. boosted its stake in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after buying an additional 25,662,586 shares in the last quarter. State Street Corp lifted its holdings in shares of Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after acquiring an additional 3,377,669 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Flex by 118.1% during the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock valued at $162,968,000 after acquiring an additional 1,522,308 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Flex by 80.9% during the third quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company’s stock valued at $153,374,000 after acquiring an additional 1,183,464 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of Flex during the third quarter valued at $56,270,000. Institutional investors and hedge funds own 94.30% of the company’s stock.
Flex Stock Performance
Flex stock opened at $91.84 on Tuesday. The stock has a 50-day simple moving average of $71.04 and a 200 day simple moving average of $65.79. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 12-month low of $34.94 and a 12-month high of $93.53. The stock has a market capitalization of $33.77 billion, a price-to-earnings ratio of 41.18, a P/E/G ratio of 1.97 and a beta of 1.46.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on FLEX. Raymond James Financial set a $80.00 price objective on Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus lifted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Barclays lifted their price objective on Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. lifted their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Robert W. Baird began coverage on Flex in a report on Thursday, March 12th. They set an “outperform” rating and a $70.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.30.
Get Our Latest Stock Report on FLEX
Insider Activity
In related news, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the sale, the chief operating officer directly owned 233,636 shares in the company, valued at $13,754,151.32. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.
Flex Profile
Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.
Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.
Featured Stories
Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX – Free Report).
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.
