93,653 Shares in Flex Ltd. $FLEX Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 93,653 shares of the technology company’s stock, valued at approximately $5,659,000.

Other large investors have also bought and sold shares of the company. USA Financial Formulas bought a new position in Flex during the 4th quarter worth $28,000. CENTRAL TRUST Co raised its position in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares in the last quarter. Gables Capital Management Inc. bought a new position in shares of Flex in the 4th quarter worth about $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flex in the 3rd quarter worth about $52,000. Finally, Root Financial Partners LLC bought a new position in shares of Flex in the 3rd quarter worth about $57,000. 94.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FLEX shares. KeyCorp lifted their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” 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. Stifel Nicolaus lifted their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Barclays lifted their price objective on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One 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 company. According to data from MarketBeat.com, Flex has an average rating of “Moderate Buy” and an average price target of $112.80.

Flex Stock Performance

Shares of Flex stock opened at $132.47 on Friday. Flex Ltd. has a one year low of $40.15 and a one year high of $147.34. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 0.69 and a beta of 1.46. The business has a 50-day simple moving average of $90.64 and a 200 day simple moving average of $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.

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

Insiders Place Their Bets

In related news, Director Erin Mcsweeney sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $145.88, for a total value of $437,640.00. Following the completion of the sale, the director directly owned 11,512 shares of the company’s stock, valued at $1,679,370.56. The trade was a 20.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 22,212 shares of the business’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 of the company’s stock, valued at $10,669,462.40. The trade was a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 worth $30,720,858 over the last three months. Insiders own 0.57% of the company’s stock.

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.