J. Safra Sarasin Holding AG Has $26.25 Million Stake in Flex Ltd. $FLEX

J. Safra Sarasin Holding AG raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 8.2% in the first quarter, HoldingsChannel.com reports. The firm owned 401,094 shares of the technology company’s stock after purchasing an additional 30,326 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Flex were worth $26,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FLEX. USA Financial Formulas bought a new position in shares of Flex during the fourth quarter worth approximately $28,000. Frazier Financial Advisors LLC bought a new stake in shares of Flex in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust grew 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 in the last quarter. Gables Capital Management Inc. bought a new position in Flex during the 4th quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Flex by 6,318.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after acquiring an additional 695 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. KeyCorp upped their price objective 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. Finally, Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.70.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 22,627 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,269,148.96. Following the sale, the insider directly owned 253,199 shares in the company, valued at approximately $36,582,191.52. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 197,879 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total transaction of $28,557,897.28. Following the sale, the chief executive officer directly owned 623,466 shares in the company, valued at $89,978,613.12. This trade represents 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 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 Price Performance

NASDAQ FLEX opened at $135.80 on Monday. The business has a fifty day moving average price of $142.50 and a two-hundred day moving average price of $93.81. The stock has a market capitalization of $49.75 billion, a PE ratio of 58.28, a PEG ratio of 0.71 and a beta of 1.64. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86. 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 (NASDAQ:FLEX) last issued its quarterly 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 for the quarter. Equities analysts expect that Flex Ltd. will post 4.15 earnings per share 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.