Graphene Investments SAS Buys 6,700 Shares of Flex Ltd. (NASDAQ:FLEX)

Graphene Investments SAS increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,500 shares of the technology company’s stock after acquiring an additional 6,700 shares during the quarter. Flex makes up 2.0% of Graphene Investments SAS’s investment portfolio, making the stock its 27th largest position. Graphene Investments SAS’s holdings in Flex were worth $3,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Richardson Financial Services Inc. purchased a new stake in shares of Flex during the fourth quarter worth about $34,000. CWM LLC grew its position in shares of Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after buying an additional 773 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after buying an additional 1,455 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Flex during the fourth quarter valued at approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Flex in the fourth quarter worth $77,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on FLEX shares. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $27.00 in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Barclays raised their price objective on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Flex Stock Up 2.1 %

Shares of NASDAQ FLEX traded up $0.63 during trading on Wednesday, reaching $30.10. The company had a trading volume of 2,168,807 shares, compared to its average volume of 4,709,007. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average is $30.55 and its 200 day moving average is $28.37. The stock has a market cap of $12.00 billion, a PE ratio of 12.92, a P/E/G ratio of 1.97 and a beta of 1.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. As a group, equities analysts forecast that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total transaction of $235,110.83. Following the transaction, the insider now directly owns 151,691 shares of the company’s stock, valued at $4,443,029.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Flex news, CFO Paul Lundstrom sold 35,733 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the completion of the sale, the chief financial officer now directly owns 507,752 shares in the company, valued at approximately $14,547,094.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the completion of the transaction, the insider now owns 151,691 shares in the company, valued at $4,443,029.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 804,542 shares of company stock worth $25,147,972. Insiders own 0.82% of the company’s stock.

Flex 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.