Flex Ltd (FLEX) Holdings Increased by Tocqueville Asset Management L.P.

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Tocqueville Asset Management L.P. raised its holdings in Flex Ltd (NASDAQ:FLEX) by 56.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,112,500 shares of the technology company’s stock after acquiring an additional 400,000 shares during the period. Tocqueville Asset Management L.P.’s holdings in Flex were worth $8,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fox Run Management L.L.C. purchased a new stake in Flex in the 4th quarter valued at about $98,000. Legal & General Group Plc grew its holdings in Flex by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 2,538,034 shares of the technology company’s stock valued at $33,299,000 after buying an additional 60,739 shares during the period. Highland Capital Management LP purchased a new stake in Flex in the 3rd quarter valued at about $1,443,000. SG Americas Securities LLC purchased a new stake in Flex in the 3rd quarter valued at about $1,196,000. Finally, Morgan Stanley grew its holdings in Flex by 128.8% in the 3rd quarter. Morgan Stanley now owns 3,335,742 shares of the technology company’s stock valued at $43,763,000 after buying an additional 1,877,656 shares during the period. Institutional investors own 91.38% of the company’s stock.

Several research firms have commented on FLEX. BidaskClub upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating in a report on Monday, December 31st. ValuEngine upgraded Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Macquarie set a $9.00 target price on Flex and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, Wolfe Research began coverage on Flex in a report on Tuesday, December 11th. They set a “market perform” rating for the company. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.17.

Flex stock traded up $0.09 during midday trading on Tuesday, hitting $10.75. 118,566 shares of the company were exchanged, compared to its average volume of 9,071,448. The firm has a market capitalization of $5.56 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.79. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.75 and a current ratio of 1.26. Flex Ltd has a fifty-two week low of $6.74 and a fifty-two week high of $19.09.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.77 billion. Flex had a return on equity of 4.47% and a net margin of 0.52%. Flex’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, analysts forecast that Flex Ltd will post 0.66 earnings per share for the current fiscal year.

In related news, Director Marc A. Onetto purchased 11,500 shares of Flex stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average cost of $8.49 per share, with a total value of $97,635.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

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Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

See Also: Rule of 72

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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