75,605 Shares in Flex Ltd. $FLEX Acquired by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 75,605 shares of the technology company’s stock, valued at approximately $4,949,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. State Street Corp boosted its stake in shares of Flex by 17.8% during the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after buying an additional 2,126,440 shares during the period. Geode Capital Management LLC grew its holdings in shares of Flex by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after buying an additional 181,266 shares during the last quarter. Norges Bank purchased a new stake in Flex during the 4th quarter valued at approximately $319,756,000. Finally, Polar Capital Holdings Plc lifted its position in Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after acquiring an additional 2,165,780 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flex

In related news, EVP David Scott Offer sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president owned 73,471 shares in the company, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 197,879 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total value of $28,557,897.28. Following the completion of the transaction, the chief executive officer directly owned 623,466 shares of the company’s stock, valued at $89,978,613.12. The trade was a 24.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FLEX shares. Robert W. Baird set a $142.00 target price on Flex in a report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a report on Friday, July 17th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. KeyCorp boosted their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Barclays reduced their target price on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.20.

Flex Price Performance

Shares of NASDAQ FLEX opened at $113.75 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86. The firm has a market capitalization of $41.68 billion, a P/E ratio of 43.92, a PEG ratio of 0.59 and a beta of 1.64. The company’s fifty day moving average is $139.51 and its two-hundred day moving average is $99.98.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The business had revenue of $7.93 billion during the quarter. Analysts forecast that Flex Ltd. will post 4.18 EPS for the current fiscal year.

Flex 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.