Flex Ltd. $FLEX Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Flex Ltd. (NASDAQ:FLEX) by 446.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 290,062 shares of the technology company’s stock after acquiring an additional 236,941 shares during the period. Hsbc Holdings PLC’s holdings in Flex were worth $18,905,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. USA Financial Formulas acquired a new position in Flex in the fourth quarter valued at $28,000. Parkside Financial Bank & Trust lifted its position in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after buying an additional 166 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Flex in the 4th quarter worth about $28,000. Gables Capital Management Inc. acquired a new stake in Flex in the 4th quarter worth about $42,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Flex by 6,318.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after buying an additional 695 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $127.39 on Wednesday. The business has a 50-day moving average of $142.41 and a two-hundred day moving average of $96.90. The firm has a market capitalization of $46.67 billion, a PE ratio of 54.67, a P/E/G ratio of 0.63 and a beta of 1.64. 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 12 month low of $47.83 and a 12 month high of $166.86.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, research analysts forecast that Flex Ltd. will post 4.18 earnings per share for the current year.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 22,627 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 33,000 shares of the stock in a transaction on 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 completion of the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at $11,307,921.61. The trade was a 30.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. KeyCorp upped their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Stifel Nicolaus lifted their price target on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Flex presently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

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.