Universal Beteiligungs und Servicegesellschaft mbH Takes $8.11 Million Position in Flex Ltd. (NASDAQ:FLEX)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 245,124 shares of the technology company’s stock, valued at approximately $8,109,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Flex as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLEX. Norges Bank bought a new position in Flex during the fourth quarter worth about $229,484,000. Invesco Ltd. grew its holdings in Flex by 42.9% during the fourth quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company’s stock worth $207,107,000 after purchasing an additional 1,620,812 shares during the period. Neuberger Berman Group LLC grew its holdings in Flex by 13,790.0% during the fourth quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company’s stock worth $47,528,000 after purchasing an additional 1,229,106 shares during the period. Northern Trust Corp grew its holdings in Flex by 89.1% during the fourth quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company’s stock worth $95,965,000 after purchasing an additional 1,177,923 shares during the period. Finally, LMR Partners LLP bought a new position in Flex during the fourth quarter worth about $36,470,000. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In other news, CEO Revathi Advaithi sold 37,465 shares of Flex stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $1,686,299.65. Following the completion of the sale, the chief executive officer directly owned 1,363,312 shares in the company, valued at approximately $61,362,673.12. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kwang Hooi Tan sold 8,509 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $382,990.09. Following the transaction, the chief operating officer owned 276,136 shares of the company’s stock, valued at approximately $12,428,881.36. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,135,941 shares of company stock valued at $47,582,965 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Flex in a report on Friday, July 11th. Barclays boosted their price objective on Flex from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on Flex from $44.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Bank of America boosted their price objective on Flex from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Flex from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.71.

Flex Stock Up 0.6%

NASDAQ FLEX opened at $49.99 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $53.97. The company has a 50 day moving average of $47.06 and a 200-day moving average of $40.64. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.84 and a beta of 1.07.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.