Universal Beteiligungs und Servicegesellschaft mbH Grows Stock Position in Flex Ltd. $FLEX

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Flex Ltd. (NASDAQ:FLEX) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,672 shares of the technology company’s stock after buying an additional 9,968 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Flex were worth $13,720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners raised its position in Flex by 3.5% in the second quarter. Boston Partners now owns 20,620,717 shares of the technology company’s stock worth $1,029,769,000 after acquiring an additional 687,835 shares during the period. State Street Corp increased its stake in shares of Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares in the last quarter. Invesco Ltd. raised its holdings in Flex by 6.1% in the 2nd quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company’s stock worth $442,870,000 after purchasing an additional 508,495 shares during the period. Geode Capital Management LLC lifted its position in Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock valued at $358,500,000 after purchasing an additional 2,459,511 shares in the last quarter. Finally, Norges Bank bought a new stake in Flex during the second quarter valued at about $291,362,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of analyst reports. Barclays lowered their price objective on Flex from $78.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of Flex in a report on Wednesday, November 12th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Finally, KeyCorp upped 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Flex currently has an average rating of “Moderate Buy” and an average price target of $66.11.

Flex Stock Performance

FLEX opened at $63.78 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. The stock has a market capitalization of $23.59 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.72 and a beta of 1.24. The company has a fifty day moving average of $62.44 and a 200 day moving average of $58.36. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $72.22.

Insider Activity

In other news, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $64.26, for a total value of $963,900.00. Following the sale, the insider directly owned 241,198 shares of the company’s stock, valued at approximately $15,499,383.48. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the transaction, the chief operating officer directly owned 251,136 shares of the company’s stock, valued at approximately $16,293,703.68. The trade was a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 128,906 shares of company stock valued at $7,904,439. 0.57% of the stock is owned by corporate 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.