Flex Ltd. (NASDAQ:FLEX) Shares Bought by Credit Suisse AG

Posted by Defense World Staff on Feb 24th, 2023

Credit Suisse AG increased its holdings in Flex Ltd. (NASDAQ:FLEX – Get Rating) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 582,592 shares of the technology company’s stock after buying an additional 5,764 shares during the quarter. Credit Suisse AG owned about 0.13% of Flex worth $9,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FLEX. Invesco Ltd. boosted its position in Flex by 119.3% in the 1st quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after purchasing an additional 5,741,044 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Flex in the 2nd quarter worth approximately $82,769,000. Franklin Resources Inc. boosted its position in Flex by 14.1% in the 2nd quarter. Franklin Resources Inc. now owns 14,792,799 shares of the technology company’s stock worth $214,052,000 after purchasing an additional 1,831,251 shares in the last quarter. Victory Capital Management Inc. boosted its position in Flex by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 22,155,538 shares of the technology company’s stock worth $369,111,000 after purchasing an additional 1,013,241 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Flex by 44.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,075,064 shares of the technology company’s stock worth $44,495,000 after purchasing an additional 941,726 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Flex Trading Up 0.7 %

Shares of NASDAQ:FLEX opened at $23.39 on Friday. Flex Ltd. has a 1 year low of $13.63 and a 1 year high of $25.12. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.88 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.36 and a quick ratio of 0.68. The business’s 50 day moving average price is $23.15 and its 200-day moving average price is $20.40.

Flex (NASDAQ:FLEX – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.51 billion. Flex had a return on equity of 19.38% and a net margin of 2.76%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. On average, equities research analysts forecast that Flex Ltd. will post 2.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the topic of several recent research reports. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th. Citigroup increased their target price on Flex from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $23.75.

Insider Buying and Selling at Flex

In other Flex news, Director Charles K. Stevens III sold 20,000 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $21.69, for a total value of $433,800.00. Following the transaction, the director now owns 52,380 shares in the company, valued at approximately $1,136,122.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, insider Michael P. Hartung sold 12,376 shares of the firm’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $21.39, for a total value of $264,722.64. Following the completion of the sale, the insider now directly owns 111,105 shares of the company’s stock, valued at approximately $2,376,535.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles K. Stevens III sold 20,000 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $21.69, for a total value of $433,800.00. Following the completion of the sale, the director now directly owns 52,380 shares of the company’s stock, valued at $1,136,122.20. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Flex Company Profile

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Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment comprised of Communications, Enterprise and Cloud (CEC) includes data infrastructure, edge infrastructure and communications infrastructure, Lifestyle includes appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices include mobile and high velocity consumer devices.