Vontobel Holding Ltd. Has $1.67 Million Holdings in Flex Ltd. $FLEX

Vontobel Holding Ltd. lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 27.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 28,844 shares of the technology company’s stock after selling 10,883 shares during the period. Vontobel Holding Ltd.’s holdings in Flex were worth $1,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FLEX. Norges Bank purchased a new position in shares of Flex during the second quarter valued at approximately $291,362,000. State Street Corp lifted its stake in Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after acquiring an additional 3,377,669 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Flex by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after acquiring an additional 2,459,511 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Flex by 73.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company’s stock worth $91,888,000 after acquiring an additional 1,177,970 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Flex by 44.0% in the second quarter. Bank of New York Mellon Corp now owns 2,928,808 shares of the technology company’s stock valued at $146,206,000 after purchasing an additional 894,790 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Barclays boosted their target price on Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of Flex in a research report on Wednesday, November 12th. Finally, Argus set a $85.00 price objective on Flex in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

Insider Transactions at Flex

In other news, Director William D. Watkins sold 20,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the transaction, the director owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This represents a 16.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kwang Hooi Tan sold 12,500 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $64.88, for a total transaction of $811,000.00. Following the sale, the chief operating officer directly owned 251,136 shares in the company, valued at approximately $16,293,703.68. This trade represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 107,500 shares of company stock valued at $6,593,750. 0.57% of the stock is currently owned by insiders.

Flex Trading Down 0.3%

Shares of FLEX stock opened at $63.33 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The firm has a market cap of $23.42 billion, a P/E ratio of 28.02, a PEG ratio of 1.69 and a beta of 1.26. The company has a 50 day moving average of $62.42 and a 200-day moving average of $56.19. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $72.22.

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.