Fideuram Asset Management Ireland dac Buys Shares of 17,192 Flex Ltd. $FLEX

Fideuram Asset Management Ireland dac bought a new stake in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, Holdings Channel.com reports. The firm bought 17,192 shares of the technology company’s stock, valued at approximately $979,000.

A number of other hedge funds have also recently added to or reduced their stakes in FLEX. USA Financial Formulas acquired a new stake in Flex in the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Flex during the fourth quarter worth $28,000. CENTRAL TRUST Co lifted its holdings in shares of Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Flex during the fourth quarter worth $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flex during the third quarter worth $52,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the topic of a number of recent research reports. KeyCorp lifted their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Robert W. Baird set a $165.00 price target on shares of Flex in a report on Thursday, May 7th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus lifted their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.80.

Flex Price Performance

Shares of NASDAQ FLEX opened at $150.65 on Friday. Flex Ltd. has a twelve month low of $41.43 and a twelve month high of $154.25. The firm has a fifty day simple moving average of $98.58 and a 200 day simple moving average of $75.42. The company has a market capitalization of $55.19 billion, a PE ratio of 64.66, a P/E/G ratio of 0.79 and a beta of 1.46. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling at Flex

In related news, Director Charles K. Stevens III sold 15,000 shares of Flex stock in a transaction on Friday, May 8th. The shares were sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This trade represents a 24.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Revathi Advaithi sold 114,090 shares of Flex stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the transaction, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at $98,096,062.14. This represents a 14.21% decrease in their position. 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 329,512 shares of company stock valued at $44,459,298 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

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.