DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Increases Holdings in Flex Ltd. (NASDAQ:FLEX)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Flex Ltd. (NASDAQ:FLEX) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 155,220 shares of the technology company’s stock after acquiring an additional 16,041 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Flex were worth $5,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FLEX. Centiva Capital LP bought a new position in shares of Flex in the 4th quarter worth approximately $391,000. Captrust Financial Advisors increased its stake in shares of Flex by 8.8% in the 4th quarter. Captrust Financial Advisors now owns 38,308 shares of the technology company’s stock worth $1,471,000 after purchasing an additional 3,090 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Flex by 36.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,280,657 shares of the technology company’s stock valued at $87,554,000 after purchasing an additional 603,809 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Flex by 78.1% during the fourth quarter. Ameriprise Financial Inc. now owns 853,179 shares of the technology company’s stock valued at $32,754,000 after purchasing an additional 374,247 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in Flex by 4.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,599,783 shares of the technology company’s stock worth $61,416,000 after buying an additional 61,636 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $38.48 on Friday. The business has a 50 day simple moving average of $33.55 and a two-hundred day simple moving average of $37.47. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The stock has a market capitalization of $14.74 billion, a PE ratio of 15.52, a P/E/G ratio of 2.43 and a beta of 0.96. 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 posted its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the firm posted $0.57 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In other Flex news, EVP David Scott Offer sold 87,093 shares of Flex stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the transaction, the executive vice president now directly owns 71,001 shares of the company’s stock, valued at $2,586,566.43. The trade was a 55.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Revathi Advaithi sold 120,280 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $38.09, for a total transaction of $4,581,465.20. Following the completion of the sale, the chief executive officer now directly owns 1,112,193 shares in the company, valued at approximately $42,363,431.37. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 257,373 shares of company stock worth $9,916,763. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. Barclays increased their price objective on shares of Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday. KeyCorp lifted their target price on shares of Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.33.

About Flex

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.