Handelsbanken Fonder AB Has $4.90 Million Stock Holdings in Flex Ltd. $FLEX

Handelsbanken Fonder AB lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 32.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 81,100 shares of the technology company’s stock after acquiring an additional 19,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Flex were worth $4,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Flex in the fourth quarter worth $28,000. CENTRAL TRUST Co boosted its position in shares of Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after buying an additional 355 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Flex in the fourth quarter worth $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flex in the third quarter worth $52,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Flex in the third quarter worth $57,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FLEX. Raymond James Financial set a $80.00 target price on Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” 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. Robert W. Baird set a $165.00 price objective on Flex in a report on Thursday, May 7th. Finally, Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.80.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 22,216 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the sale, the insider directly owned 232,706 shares of the company’s stock, valued at approximately $33,132,680.28. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 22,212 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.40, for a total value of $3,162,988.80. Following the completion of the sale, the executive vice president directly owned 74,926 shares in the company, valued at approximately $10,669,462.40. This represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 226,512 shares of company stock valued at $30,720,858 in the last quarter. Insiders own 0.57% of the company’s stock.

Flex Price Performance

NASDAQ FLEX opened at $132.47 on Friday. Flex Ltd. has a fifty-two week low of $40.15 and a fifty-two week high of $147.34. The stock’s 50-day moving average is $90.64 and its two-hundred day moving average is $72.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The firm has a market cap of $48.53 billion, a P/E ratio of 56.85, a price-to-earnings-growth ratio of 0.69 and a beta of 1.46.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, analysts anticipate that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

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.