Pacer Advisors Inc. Acquires 109,992 Shares of Flex Ltd. $FLEX

Pacer Advisors Inc. boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,294,132 shares of the technology company’s stock after purchasing an additional 109,992 shares during the period. Pacer Advisors Inc.’s holdings in Flex were worth $84,714,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. State Street Corp lifted its stake in shares of Flex by 17.8% during the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after buying an additional 2,126,440 shares during the last quarter. Geode Capital Management LLC lifted its position in Flex by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after acquiring an additional 181,266 shares during the last quarter. Norges Bank bought a new stake in Flex in the 4th quarter valued at $319,756,000. Finally, Polar Capital Holdings Plc boosted its position in shares of Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after acquiring an additional 2,165,780 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Flex stock opened at $113.75 on Monday. The stock has a market capitalization of $41.68 billion, a price-to-earnings ratio of 43.92, a PEG ratio of 0.59 and a beta of 1.64. Flex Ltd. has a 52-week low of $47.83 and a 52-week high of $166.86. The stock’s 50 day moving average price is $139.51 and its two-hundred day moving average price is $99.98. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The business had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. On average, equities analysts predict that Flex Ltd. will post 4.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLEX. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Raymond James Financial set a $170.00 price target on shares of Flex and gave the company an “outperform” rating in a research note on Wednesday. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. KeyCorp raised their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.20.

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 7,269 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the completion of the sale, the insider owned 245,930 shares in the company, valued at approximately $35,713,954.60. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of Flex stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.20, for a total transaction of $190,357.20. Following the transaction, the chief accounting officer owned 37,932 shares of the company’s stock, valued at $5,507,726.40. This represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 769,195 shares of company stock worth $110,116,823 in the last quarter. Insiders own 0.62% of the company’s stock.

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.