Gulf International Bank UK Ltd Takes Position in Flex Ltd. $FLEX

Gulf International Bank UK Ltd acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, HoldingsChannel reports. The fund acquired 20,526 shares of the technology company’s stock, valued at approximately $1,240,000.

Several other institutional investors also recently bought and sold shares of FLEX. USA Financial Formulas bought a new position in Flex in the fourth quarter worth approximately $28,000. Frazier Financial Advisors LLC purchased a new position in shares of Flex in the 4th quarter valued at $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 $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flex during the 3rd quarter worth $52,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLEX has been the subject of a number of recent research reports. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on shares of Flex in a research note on Thursday, May 7th. The Goldman Sachs Group raised their target price on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial set a $80.00 price target on shares of Flex and gave the stock an “outperform” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $112.80.

Insider Activity

In other Flex news, Director Erin Mcsweeney sold 2,000 shares of Flex stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $132.51, for a total transaction of $265,020.00. Following the completion of the sale, the director owned 9,512 shares of the company’s stock, valued at approximately $1,260,435.12. The trade was a 17.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Scott Offer sold 22,212 shares of the 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 transaction, the executive vice president directly owned 74,926 shares in the company, valued at $10,669,462.40. This represents 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. Over the last ninety days, insiders sold 329,512 shares of company stock valued at $44,459,298. 0.57% of the stock is owned by corporate insiders.

Flex Stock Performance

Shares of Flex stock opened at $150.65 on Friday. The company has a 50 day moving average price of $98.58 and a 200 day moving average price of $75.42. The firm has a market capitalization of $55.19 billion, a P/E ratio of 64.66, a PEG ratio of 0.76 and a beta of 1.46. 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 Ltd. has a 52 week low of $41.43 and a 52 week high of $154.25.

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

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.