Quantinno Capital Management LP Buys 13,555 Shares of Flex Ltd. $FLEX

Quantinno Capital Management LP grew its position in shares of Flex Ltd. (NASDAQ:FLEX) by 21.6% during the first quarter, Holdings Channel.com reports. The fund owned 76,283 shares of the technology company’s stock after purchasing an additional 13,555 shares during the quarter. Quantinno Capital Management LP’s holdings in Flex were worth $4,994,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. SummitTX Capital L.P. lifted its position in shares of Flex by 1.1% during the 1st quarter. SummitTX Capital L.P. now owns 122,995 shares of the technology company’s stock worth $8,051,000 after buying an additional 1,318 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Flex by 34.8% in the first quarter. Lazard Asset Management LLC now owns 431,680 shares of the technology company’s stock valued at $28,258,000 after acquiring an additional 111,354 shares in the last quarter. Castleark Management LLC increased its position in shares of Flex by 85.3% during the first quarter. Castleark Management LLC now owns 10,580 shares of the technology company’s stock valued at $693,000 after acquiring an additional 4,870 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Flex by 37.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 21,595 shares of the technology company’s stock worth $1,414,000 after acquiring an additional 5,840 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA purchased a new position in Flex in the first quarter worth $353,000. 94.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLEX. KeyCorp upped their price objective on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial set a $170.00 price target on shares of Flex and gave the company an “outperform” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group decreased their price objective on shares of Flex from $177.00 to $154.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.20.

Flex Trading Up 0.6%

Shares of FLEX opened at $122.65 on Friday. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86. The stock has a market cap of $45.31 billion, a PE ratio of 47.36, a P/E/G ratio of 0.62 and a beta of 1.67. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $137.96 and its 200-day moving average price is $101.60.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The company had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. On average, equities analysts forecast that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Insider Activity

In other news, insider Michael P. Hartung sold 22,627 shares of the business’s stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the completion of the transaction, the chief operating officer directly owned 257,527 shares in the company, 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. Insiders have sold 754,195 shares of company stock valued at $108,044,723 over the last 90 days. Company insiders own 0.62% of the company’s stock.

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.