J. Safra Sarasin Holding AG Acquires 30,326 Shares of Flex Ltd. $FLEX

J. Safra Sarasin Holding AG raised its stake in Flex Ltd. (NASDAQ:FLEX) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 401,094 shares of the technology company’s stock after purchasing an additional 30,326 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.11% of Flex worth $26,250,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FLEX. Resonant Capital Advisors LLC boosted its holdings in shares of Flex by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after buying an additional 163 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after buying an additional 166 shares during the last quarter. Parallel Advisors LLC raised its position in Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after acquiring an additional 181 shares in the last quarter. Hunter Associates Investment Management LLC lifted its stake in Flex by 2.1% in the first quarter. Hunter Associates Investment Management LLC now owns 9,675 shares of the technology company’s stock valued at $635,000 after acquiring an additional 200 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in Flex by 0.7% in the fourth quarter. Fred Alger Management LLC now owns 30,881 shares of the technology company’s stock valued at $1,866,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity at Flex

In other news, COO Kwang Hooi Tan sold 8,981 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the transaction, the chief operating officer owned 248,546 shares in the company, valued at approximately $36,086,393.74. This trade represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the completion of the sale, the chief accounting officer owned 37,932 shares of the company’s stock, valued at $5,507,726.40. This trade represents a 3.34% 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. Over the last quarter, insiders have sold 769,195 shares of company stock valued at $110,116,823. Insiders own 0.62% of the company’s stock.

Flex Price Performance

Shares of FLEX opened at $135.80 on Monday. The company’s 50-day moving average is $142.50 and its 200-day moving average is $93.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The firm has a market capitalization of $49.75 billion, a PE ratio of 58.28, a PEG ratio of 0.71 and a beta of 1.64. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86.

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

Analyst Upgrades and Downgrades

FLEX has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. KeyCorp lifted 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. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group upped their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.70.

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.