Financiere des Professionnels Fonds d investissement inc. Has $508,000 Stock Position in Flex Ltd. $FLEX

Financiere des Professionnels Fonds d investissement inc. lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 45.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,754 shares of the technology company’s stock after selling 6,539 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Flex were worth $508,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FLEX. USA Financial Formulas acquired a new position in shares of Flex in the fourth quarter worth about $28,000. Parkside Financial Bank & Trust raised its holdings in shares of Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after acquiring an additional 166 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Flex during the fourth quarter valued at approximately $28,000. Gables Capital Management Inc. purchased a new stake in shares of Flex in the 4th quarter valued at approximately $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Flex by 6,318.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after purchasing an additional 695 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Trading Down 1.5%

Shares of NASDAQ:FLEX opened at $119.25 on Friday. The firm has a fifty day moving average of $143.16 and a two-hundred day moving average of $95.78. 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 12-month low of $47.83 and a 12-month high of $166.86. The firm has a market capitalization of $43.69 billion, a P/E ratio of 51.18, a price-to-earnings-growth ratio of 0.64 and a beta of 1.64.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share 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 for the quarter. On average, equities analysts expect that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FLEX shares. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Barclays upped their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. KeyCorp raised their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 22,627 shares of Flex stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the completion of the sale, the insider directly owned 253,199 shares in the company, valued at $36,582,191.52. The trade was a 8.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,657 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the completion of the sale, the chief operating officer directly owned 257,527 shares of the company’s stock, valued at approximately $37,207,500.96. The trade was a 9.38% decrease in their position. 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 three months, insiders have sold 769,195 shares of company stock worth $110,116,823. 0.62% of the stock is owned by company insiders.

Flex Company 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.