Lombard Odier Asset Management Switzerland SA Takes Position in Flex Ltd. $FLEX

Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,400 shares of the technology company’s stock, valued at approximately $353,000.

Several other large investors have also recently made changes to their positions in FLEX. Vanguard Group Inc. grew its stake in Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. Norges Bank acquired a new position in shares of Flex during the fourth quarter worth $319,756,000. State Street Corp grew 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 worth $611,997,000 after buying an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Flex by 694,916.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after acquiring an additional 2,640,682 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its holdings in shares of Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after buying an additional 2,165,780 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on FLEX. Barclays lifted their price objective on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group lifted their target price on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Flex Price Performance

FLEX stock opened at $113.28 on Wednesday. Flex Ltd. has a 1 year low of $47.83 and a 1 year high of $166.86. The firm has a market capitalization of $41.50 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 0.61 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. The business has a 50 day simple moving average of $140.84 and a 200-day simple moving average of $98.96.

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. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion during the quarter. Equities research analysts anticipate that Flex Ltd. will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, CEO Revathi Advaithi sold 39,188 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.18, for a total transaction of $5,689,313.84. Following the sale, the chief executive officer owned 584,278 shares of the company’s stock, valued at approximately $84,825,480.04. The trade was a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, insider Michael P. Hartung sold 7,269 shares of Flex stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.22, for a total value of $1,055,604.18. Following the completion of the sale, the insider owned 245,930 shares in the company, valued at $35,713,954.60. This represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 769,195 shares of company stock worth $110,116,823. Insiders own 0.62% of the company’s stock.

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.