KBC Group NV Increases Holdings in Flex Ltd. (NASDAQ:FLEX)

KBC Group NV increased its stake in Flex Ltd. (NASDAQ:FLEX) by 872.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,132 shares of the technology company’s stock after acquiring an additional 93,426 shares during the period. KBC Group NV’s holdings in Flex were worth $3,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Flex by 71.1% during the 4th quarter. Blue Trust Inc. now owns 7,033 shares of the technology company’s stock valued at $270,000 after buying an additional 2,923 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Flex by 305.6% in the 4th quarter. Fifth Third Bancorp now owns 2,231 shares of the technology company’s stock worth $86,000 after acquiring an additional 1,681 shares during the last quarter. Brighton Jones LLC purchased a new position in shares of Flex during the 4th quarter worth about $260,000. Veracity Capital LLC raised its position in Flex by 10.8% in the 4th quarter. Veracity Capital LLC now owns 16,870 shares of the technology company’s stock worth $648,000 after purchasing an additional 1,644 shares during the period. Finally, Whalen Wealth Management Inc. bought a new stake in Flex in the fourth quarter worth about $256,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.

Flex Trading Up 1.4 %

NASDAQ:FLEX opened at $42.08 on Friday. The firm has a 50-day simple moving average of $39.95 and a 200-day simple moving average of $35.35. Flex Ltd. has a one year low of $23.64 and a one year high of $45.10. The firm has a market cap of $16.32 billion, a P/E ratio of 18.62, a P/E/G ratio of 2.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 16.66% and a net margin of 3.62%. Equities analysts anticipate that Flex Ltd. will post 2.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Craig Hallum boosted their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays raised their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flex has an average rating of “Buy” and an average price target of $43.67.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.