Vise Technologies Inc. Grows Position in Flex Ltd. (NASDAQ:FLEX)

Vise Technologies Inc. boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 114.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,036 shares of the technology company’s stock after purchasing an additional 32,021 shares during the period. Vise Technologies Inc.’s holdings in Flex were worth $2,305,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Flex in the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Flex in the fourth quarter valued at about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Flex in the fourth quarter valued at about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after acquiring an additional 509 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Flex by 46.7% in the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock worth $58,000 after buying an additional 478 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Trading Up 0.1%

Shares of NASDAQ FLEX opened at $41.48 on Friday. The business’s 50 day moving average is $35.00 and its two-hundred day moving average is $37.92. 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 Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The stock has a market capitalization of $15.89 billion, a P/E ratio of 16.73, a PEG ratio of 2.43 and a beta of 0.96.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The company had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Ratings Changes

FLEX has been the topic of a number of research analyst reports. Wall Street Zen upgraded Flex from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays boosted their target price on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. KeyCorp boosted their target price on Flex from $35.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. The Goldman Sachs Group decreased 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. Finally, Stifel Nicolaus assumed coverage on Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $45.33.

Insider Buying and Selling at Flex

In other Flex news, CAO Daniel Wendler sold 4,502 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the completion of the transaction, the chief accounting officer now owns 38,676 shares in the company, valued at $1,624,005.24. The trade was a 10.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 87,093 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total value of $3,172,797.99. Following the transaction, the executive vice president now owns 71,001 shares of the company’s stock, valued at $2,586,566.43. This trade represents a 55.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 489,255 shares of company stock worth $19,589,788 over the last 90 days. Company insiders own 0.82% of the company’s stock.

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.