11,474 Flex Ltd. $FLEX Shares Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 192.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,422 shares of the technology company’s stock after buying an additional 11,474 shares during the period. Machina Capital S.A.S.’s holdings in Flex were worth $1,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lido Advisors LLC increased its stake in Flex by 16.9% in the 3rd quarter. Lido Advisors LLC now owns 52,114 shares of the technology company’s stock worth $5,732,000 after purchasing an additional 7,519 shares during the period. Keybank National Association OH lifted its position in Flex by 12.5% in the third quarter. Keybank National Association OH now owns 4,475 shares of the technology company’s stock valued at $492,000 after purchasing an additional 496 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of Flex by 483.4% during the third quarter. AlphaCore Capital LLC now owns 8,739 shares of the technology company’s stock valued at $961,000 after purchasing an additional 7,241 shares during the period. Leuthold Group LLC boosted its stake in shares of Flex by 7.5% during the third quarter. Leuthold Group LLC now owns 132,275 shares of the technology company’s stock valued at $14,549,000 after purchasing an additional 9,184 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Flex by 0.3% during the third quarter. Retirement Systems of Alabama now owns 77,466 shares of the technology company’s stock valued at $8,520,000 after purchasing an additional 226 shares during the period. 94.30% of the stock is owned by institutional investors.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider directly owned 243,175 shares of the company’s stock, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird cut their price target on shares of Flex from $142.00 to $135.00 in a report on Monday, October 19th. Barclays cut their price target on shares of Flex from $144.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. JPMorgan Chase & Co. decreased their price objective on shares of Flex from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Finally, Bank of America lowered their price objective on shares of Flex from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Flex currently has a consensus rating of “Buy” and an average price target of $138.88.

Trending Headlines about Flex

Here are a few of the latest headlines about FLEX:

• Positive Sentiment: A Wall Street roundup described analysts as highly optimistic on Flex, noting the shares’ outperformance over the past year. Barchart article
• Neutral Sentiment: Flex’s Innovation Day coverage featured a technology showcase with Axiom, but the available headline does not specify financial or commercial outcomes. Innovation Day coverage
• Negative Sentiment: KeyCorp cut its Flex price target to $128 from $180, a substantial reduction that could weigh on sentiment. It maintained an “overweight” rating, however, and the revised target still implies considerable upside from the reference price cited in the report. KeyCorp rating information

Flex Trading Down 1.1%

NASDAQ FLEX opened at $78.12 on Friday. The stock has a market cap of $28.86 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.80. Flex Ltd. has a fifty-two week low of $53.07 and a fifty-two week high of $166.86. The stock has a 50 day simple moving average of $99.92 and a two-hundred day simple moving average of $103.42. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 1.34.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, October 28th. The technology company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.12. The firm had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.17 billion. Flex had a return on equity of 24.93% and a net margin of 3.35%. The business’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, analysts forecast that Flex Ltd. will post 4.52 earnings per share for the current year.

Flex Company Profile

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support. The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.