Vontobel Holding Ltd. Trims Holdings in Flex Ltd. $FLEX

Vontobel Holding Ltd. trimmed its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 27.4% during the third quarter, HoldingsChannel.com reports. The firm owned 28,844 shares of the technology company’s stock after selling 10,883 shares during the quarter. Vontobel Holding Ltd.’s holdings in Flex were worth $1,672,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in FLEX. BayBridge Capital Group LLC increased its position in shares of Flex by 2.1% during the second quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company’s stock valued at $569,000 after buying an additional 235 shares during the period. Pinnacle Bancorp Inc. grew its stake in Flex by 39.4% during the second quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock valued at $43,000 after acquiring an additional 244 shares in the last quarter. Archer Investment Corp increased its holdings in Flex by 8.9% during the 2nd quarter. Archer Investment Corp now owns 3,050 shares of the technology company’s stock worth $152,000 after acquiring an additional 250 shares during the period. Benjamin Edwards Inc. lifted its stake in Flex by 3.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 8,063 shares of the technology company’s stock worth $403,000 after purchasing an additional 257 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Flex by 1.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company’s stock valued at $759,000 after purchasing an additional 266 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other Flex news, Director William D. Watkins sold 20,000 shares of Flex stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the transaction, the director directly owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This trade represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $64.26, for a total transaction of $963,900.00. Following the completion of the sale, the insider owned 241,198 shares of the company’s stock, valued at approximately $15,499,383.48. The trade was a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 107,500 shares of company stock valued at $6,593,750. 0.57% of the stock is currently owned by corporate insiders.

Flex Price Performance

FLEX opened at $63.33 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $23.42 billion, a P/E ratio of 28.02, a PEG ratio of 1.69 and a beta of 1.26. The stock has a 50-day moving average price of $62.42 and a 200-day moving average price of $56.19. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $72.22.

Analyst Upgrades and Downgrades

FLEX has been the topic of several research analyst reports. Barclays upped their price target on shares of Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research report on Monday. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 target price on shares of Flex in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

About Flex

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.