5,678 Shares in Flex Ltd. $FLEX Acquired by Beck Bode LLC

Beck Bode LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,678 shares of the technology company’s stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLEX. Vanguard Group Inc. increased its position in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares in the last quarter. State Street Corp increased its position in Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Flex by 118.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock worth $162,968,000 after purchasing an additional 1,522,308 shares in the last quarter. JPMorgan Chase & Co. increased its position in Flex by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company’s stock worth $153,374,000 after purchasing an additional 1,183,464 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in Flex during the 3rd quarter worth approximately $56,270,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FLEX. Robert W. Baird set a $165.00 target price on shares of Flex in a research report on Thursday, May 7th. Barclays upped their price target on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. KeyCorp upped their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus upped their price target on 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.80.

Flex Stock Up 1.1%

NASDAQ FLEX opened at $132.47 on Friday. The stock has a market cap of $48.53 billion, a PE ratio of 56.85, a P/E/G ratio of 0.70 and a beta of 1.46. Flex Ltd. has a fifty-two week low of $40.15 and a fifty-two week high of $147.34. The business has a 50 day moving average price of $90.64 and a two-hundred day moving average price of $72.62. 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 released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, sell-side analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Activity at Flex

In other news, Director Charles K. Stevens III sold 15,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was 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 directly owned 45,426 shares in the company, valued at approximately $6,275,147.64. This represents a 24.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Scott Offer sold 22,212 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 74,926 shares of the company’s stock, valued at approximately $10,669,462.40. This trade represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 226,512 shares of company stock worth $30,720,858. 0.57% of the stock is currently owned by insiders.

About Flex

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.