Fullerton Fund Management Co Ltd. Takes $260,000 Position in Flex Ltd. $FLEX

Fullerton Fund Management Co Ltd. bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,308 shares of the technology company’s stock, valued at approximately $260,000.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of Flex during the fourth quarter valued at $28,000. Parkside Financial Bank & Trust lifted 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 purchasing an additional 166 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Flex during the fourth quarter valued at $28,000. CENTRAL TRUST Co lifted its holdings in shares of Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after purchasing an additional 355 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new stake in Flex in the 4th quarter worth about $42,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of FLEX stock opened at $146.93 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a fifty-two week low of $43.62 and a fifty-two week high of $166.86. The stock’s 50-day moving average is $119.05 and its two-hundred day moving average is $83.35. The firm has a market cap of $53.83 billion, a P/E ratio of 63.06, a PEG ratio of 0.79 and a beta of 1.64.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The company had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. Analysts predict that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLEX has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. KeyCorp increased their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.70.

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 33,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the transaction, the executive vice president owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles K. Stevens III sold 15,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $138.14, for a total value of $2,072,100.00. Following the transaction, the director directly owned 45,426 shares in the company, valued at approximately $6,275,147.64. This represents a 24.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 345,012 shares of company stock worth $48,508,103 in the last 90 days. Company insiders own 0.57% 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.