6,413 Shares of Flex Ltd. $FLEX Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. bought a new position in Flex Ltd. (NASDAQ:FLEX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 6,413 shares of the technology company’s stock, valued at approximately $705,000.

A number of other institutional investors have also recently bought and sold shares of the stock. KBC Group NV boosted its holdings in shares of Flex by 541.5% in the 1st quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after purchasing an additional 1,659,384 shares during the last quarter. Sei Investments Co. boosted its holdings in Flex by 52.2% in the first quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock valued at $146,016,000 after acquiring an additional 764,558 shares during the last quarter. SG Americas Securities LLC grew its position in Flex by 167.1% during the first quarter. SG Americas Securities LLC now owns 532,373 shares of the technology company’s stock valued at $34,849,000 after acquiring an additional 333,071 shares during the period. Hsbc Holdings PLC grew its position in Flex by 446.0% during the first quarter. Hsbc Holdings PLC now owns 290,062 shares of the technology company’s stock valued at $18,905,000 after acquiring an additional 236,941 shares during the period. Finally, Amundi grew its position in Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock valued at $97,825,000 after acquiring an additional 200,553 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Down 8.2%

Shares of NASDAQ FLEX opened at $90.46 on Friday. Flex Ltd. has a 12-month low of $53.07 and a 12-month high of $166.86. The company has a market cap of $33.42 billion, a P/E ratio of 30.78, a P/E/G ratio of 0.50 and a beta of 1.67. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $112.75 and a 200 day moving average price of $118.70.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The company had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. Research analysts anticipate that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total transaction of $332,363.20. Following the sale, the insider directly owned 243,175 shares in the company, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on FLEX shares. Weiss Ratings lowered Flex from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Robert W. Baird set a $142.00 price objective on Flex in a research note on Thursday, July 30th. Barclays decreased their target price on Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Wall Street Zen raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Finally, Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.67.

Flex Profile

Flex Ltd. (NASDAQ:FLEX) is a global manufacturing and supply-chain solutions provider that helps companies design, build and deliver products. The company works with original equipment manufacturers and other brands across the product life cycle, from product design and engineering through manufacturing, logistics and aftermarket services.

Its capabilities include electronics manufacturing, printed circuit board assembly, systems integration, mechanical manufacturing, testing, product development and supply-chain management.