Natixis Advisors LLC lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 30.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,274 shares of the technology company’s stock after selling 22,851 shares during the period. Natixis Advisors LLC’s holdings in Flex were worth $3,098,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its position in shares of Flex by 2,543.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 122,120 shares of the technology company’s stock worth $7,378,000 after acquiring an additional 117,500 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Flex by 249.3% during the 4th quarter. BNP Paribas Financial Markets now owns 326,293 shares of the technology company’s stock worth $19,715,000 after acquiring an additional 232,876 shares in the last quarter. Gulf International Bank UK Ltd acquired a new stake in shares of Flex during the 4th quarter worth about $1,240,000. Impact Partnership Wealth LLC raised its position in shares of Flex by 56.8% during the 4th quarter. Impact Partnership Wealth LLC now owns 17,318 shares of the technology company’s stock worth $1,046,000 after acquiring an additional 6,276 shares in the last quarter. Finally, Forsta AP Fonden acquired a new stake in shares of Flex during the 4th quarter worth about $7,637,000. Institutional investors and hedge funds own 94.30% of the company’s stock.
Flex Trading Down 2.4%
Shares of FLEX stock opened at $147.21 on Wednesday. The business’s 50 day moving average is $110.93 and its two-hundred day moving average is $80.15. Flex Ltd. has a twelve month low of $42.83 and a twelve month high of $166.86. The company has a market capitalization of $53.93 billion, a P/E ratio of 63.18, a price-to-earnings-growth ratio of 0.79 and a beta of 1.64. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.
Insider Transactions at Flex
In related news, Director Erin Mcsweeney sold 2,000 shares of Flex stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the sale, the director directly owned 9,512 shares in the company, valued at $1,260,435.12. The trade was a 17.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total value of $2,378,775.00. Following the completion of the sale, the chief operating officer owned 238,543 shares in the company, valued at approximately $32,425,149.99. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 345,012 shares of company stock valued at $48,508,103. 0.57% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. KeyCorp lifted their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Barclays lifted their price target on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. The Goldman Sachs Group lifted their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and an average target price of $115.70.
Get Our Latest Research Report on FLEX
More Flex News
Here are the key news stories impacting Flex this week:
- Positive Sentiment: Flex announced it will join the S&P 500 effective before the open on June 22, a major milestone that should boost visibility, broaden institutional ownership, and increase demand from index-tracking funds. Flex to Join S&P 500 Index
- Positive Sentiment: Barclays raised its price target on Flex to $203 from $174 and kept an Overweight rating, citing strength in the company’s AI-related businesses and other segments. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
- Positive Sentiment: Investors are also reacting to bullish commentary that Flex is being re-rated as an AI infrastructure beneficiary, with its CPI segment and planned spin-off seen as potential value drivers. The AI Kingdom Expands As Flex Joins The S&P 500
- Neutral Sentiment: Short-interest data showed no meaningful change, so it does not appear to be a major driver of the move today.
About Flex
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.
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