49,775 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,775 shares of the technology company’s stock, valued at approximately $1,911,000.

Other large investors also recently modified their holdings of the company. Assetmark Inc. increased its position in Flex by 15.2% in the third quarter. Assetmark Inc. now owns 18,462 shares of the technology company’s stock worth $617,000 after buying an additional 2,432 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Flex in the 3rd quarter worth about $305,000. KBC Group NV raised its stake in Flex by 10.3% in the 3rd quarter. KBC Group NV now owns 10,706 shares of the technology company’s stock valued at $358,000 after acquiring an additional 1,003 shares during the period. Huntington National Bank lifted its holdings in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Flex by 5.5% in the third quarter. CIBC Asset Management Inc now owns 15,132 shares of the technology company’s stock worth $506,000 after purchasing an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

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

Flex Price Performance

Flex stock opened at $34.49 on Friday. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.43 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $40.19 and a 200 day simple moving average of $37.20. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10.

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

Flex 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.