Lansforsakringar Fondforvaltning AB publ Purchases Shares of 60,743 Flex Ltd. $FLEX

Lansforsakringar Fondforvaltning AB publ acquired a new position in Flex Ltd. (NASDAQ:FLEX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 60,743 shares of the technology company’s stock, valued at approximately $3,976,000.

Several other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in shares of Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares during the last quarter. Parallel Advisors LLC raised its stake in Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock valued at $208,000 after purchasing an additional 181 shares in the last quarter. Fred Alger Management LLC raised its stake in Flex by 0.7% during the fourth quarter. Fred Alger Management LLC now owns 30,881 shares of the technology company’s stock valued at $1,866,000 after purchasing an additional 210 shares in the last quarter. Parcion Private Wealth LLC lifted its position in Flex by 1.5% during the fourth quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock valued at $855,000 after purchasing an additional 216 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Flex by 1.2% in the 3rd quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock worth $1,144,000 after buying an additional 225 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Price Performance

Flex stock opened at $136.85 on Friday. Flex Ltd. has a 12-month low of $47.83 and a 12-month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $136.81 and a 200-day moving average price of $90.78. The firm has a market capitalization of $50.14 billion, a PE ratio of 58.73, a price-to-earnings-growth ratio of 0.81 and a beta of 1.64.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group lifted their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays upped their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Robert W. Baird set a $165.00 price objective on Flex in a research note on Thursday, May 7th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.70.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 22,627 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the sale, the insider directly owned 253,199 shares in the company, valued at approximately $36,582,191.52. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,657 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,851,403.36. Following the sale, the chief operating officer directly owned 257,527 shares of the company’s stock, valued at $37,207,500.96. This represents a 9.38% 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. In the last ninety days, insiders sold 769,195 shares of company stock worth $110,116,823. Corporate insiders own 0.62% 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.