Pictet Asset Management Holding SA Has $2.20 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Pictet Asset Management Holding SA increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,220 shares of the technology company’s stock after buying an additional 4,832 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Flex were worth $2,197,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Flex in the 4th quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Flex during the 4th quarter valued at $38,000. EverSource Wealth Advisors LLC raised its position in shares of Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after acquiring an additional 704 shares during the period. Finally, UMB Bank n.a. acquired a new stake in Flex during the 4th quarter worth $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on FLEX. Barclays boosted their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $44.33.

Flex Stock Down 9.0 %

Shares of FLEX opened at $26.68 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $45.10. The stock has a 50 day simple moving average of $37.83 and a two-hundred day simple moving average of $37.57. The firm has a market cap of $10.22 billion, a P/E ratio of 10.76, a P/E/G ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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.