Lombard Odier Asset Management Switzerland SA Takes $353,000 Position in Flex Ltd. $FLEX

Lombard Odier Asset Management Switzerland SA acquired a new position in Flex Ltd. (NASDAQ:FLEX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,400 shares of the technology company’s stock, valued at approximately $353,000.

A number of other large investors have also recently made changes to their positions in the business. JSF Financial LLC lifted its holdings in shares of Flex by 0.6% in the 1st quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 115 shares during the last quarter. Glenview Trust Co increased its stake in Flex by 3.4% during the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after acquiring an additional 125 shares during the last quarter. Resonant Capital Advisors LLC raised its position in Flex by 2.1% during the first quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after purchasing an additional 163 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Flex by 7.9% in the 1st quarter. Bessemer Group Inc. now owns 2,418 shares of the technology company’s stock valued at $159,000 after purchasing an additional 178 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FLEX shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Stock Down 2.4%

NASDAQ:FLEX opened at $113.28 on Wednesday. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86. The company has a market cap of $41.50 billion, a price-to-earnings ratio of 48.62, a price-to-earnings-growth ratio of 0.61 and a beta of 1.64. The stock has a fifty day simple moving average of $140.84 and a 200-day simple moving average of $98.96. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm 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%. Analysts anticipate that Flex Ltd. will post 4.18 EPS for the current year.

Insider Activity at Flex

In other news, EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the transaction, the executive vice president directly owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,627 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the sale, the insider directly owned 253,199 shares of the company’s stock, valued at $36,582,191.52. This represents a 8.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 769,195 shares of company stock valued at $110,116,823 over the last 90 days. 0.62% of the stock is currently owned by insiders.

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.