Handelsbanken Fonder AB Purchases 7,200 Shares of Flex Ltd. (NASDAQ:FLEX)

Handelsbanken Fonder AB lifted its position in Flex Ltd. (NASDAQ:FLEX) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,400 shares of the technology company’s stock after acquiring an additional 7,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Flex were worth $1,666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Flex in the third quarter valued at about $29,000. Huntington National Bank grew its stake in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. R Squared Ltd purchased a new position in Flex in the fourth quarter valued at about $35,000. First Horizon Advisors Inc. grew its stake in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in Flex in the fourth quarter valued at about $64,000. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Down 1.2 %

Shares of FLEX opened at $38.58 on Wednesday. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The company has a market capitalization of $14.78 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The stock has a fifty day simple moving average of $41.05 and a two-hundred day simple moving average of $36.92. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FLEX shares. Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Barclays lifted their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flex has a consensus rating of “Buy” and an average target price of $44.33.

Insider Activity at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.