Flex Ltd. $FLEX Holdings Lifted by J.Safra Asset Management Corp

J.Safra Asset Management Corp increased its holdings in Flex Ltd. (NASDAQ:FLEX) by 78.4% in the 3rd quarter, Holdings Channel reports. The fund owned 36,568 shares of the technology company’s stock after purchasing an additional 16,070 shares during the period. J.Safra Asset Management Corp’s holdings in Flex were worth $2,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Fulton Bank N.A. grew its position in Flex by 0.3% during the third quarter. Fulton Bank N.A. now owns 49,904 shares of the technology company’s stock valued at $2,893,000 after purchasing an additional 167 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Flex by 2.4% during the 3rd quarter. Diversified Trust Co now owns 7,697 shares of the technology company’s stock valued at $446,000 after acquiring an additional 179 shares in the last quarter. BayBridge Capital Group LLC increased its stake in shares of Flex by 2.1% in the second quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company’s stock worth $569,000 after acquiring an additional 235 shares during the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Flex by 39.4% during the second quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock worth $43,000 after acquiring an additional 244 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Flex by 7.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 3,594 shares of the technology company’s stock valued at $208,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of analyst reports. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Bank of America lifted their price target on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, KeyCorp lifted their target price on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.11.

Insider Transactions at Flex

In other Flex news, Director Michael E. Hurlston sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the director owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. This represents a 14.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Watkins sold 20,000 shares of Flex stock in a transaction on Friday, November 21st. The shares were sold at an average price of $54.52, for a total value of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 128,906 shares of company stock valued at $7,904,439. 0.57% of the stock is owned by insiders.

Flex Trading Down 2.6%

FLEX stock opened at $64.83 on Friday. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $62.11 and its 200-day moving average is $57.94. The firm has a market cap of $23.97 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.72 and a beta of 1.24.

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.