Czech National Bank Invests $16.96 Million in Flex Ltd. $FLEX

Czech National Bank bought a new stake in Flex Ltd. (NASDAQ:FLEX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 104,654 shares of the technology company’s stock, valued at approximately $16,961,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. State Street Corp increased its stake in shares of Flex by 17.8% during the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after purchasing an additional 181,266 shares during the period. Norges Bank bought a new stake in shares of Flex in the 4th quarter valued at about $319,756,000. Finally, Polar Capital Holdings Plc lifted its stake in Flex by 141.8% in the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Down 1.1%

Shares of NASDAQ:FLEX opened at $121.35 on Friday. Flex Ltd. has a 12-month low of $47.83 and a 12-month high of $166.86. The business has a 50 day moving average of $137.37 and a 200-day moving average of $101.74. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95. The stock has a market cap of $44.83 billion, a PE ratio of 46.85, a P/E/G ratio of 0.62 and a beta of 1.67.

Flex (NASDAQ:FLEX) last announced its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. The company had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. As a group, equities research analysts forecast that Flex Ltd. will post 4.27 earnings per share for the current year.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 33,000 shares of Flex stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the sale, the executive vice president owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 26,657 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the completion of the transaction, the chief operating officer owned 257,527 shares in the company, valued at $37,207,500.96. This trade represents a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 754,195 shares of company stock worth $108,044,723 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Barclays cut their price objective on Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.20.

Flex Company 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.