Nan Fung Trinity HK Ltd. Purchases New Stake in Flex Ltd. $FLEX

Nan Fung Trinity HK Ltd. acquired a new stake in Flex Ltd. (NASDAQ:FLEX) during the third quarter, Holdings Channel.com reports. The fund acquired 147,206 shares of the technology company’s stock, valued at approximately $16,191,000. Flex comprises about 1.5% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 23rd biggest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in Flex by 52.2% during the first quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock worth $146,016,000 after purchasing an additional 764,558 shares during the last quarter. KBC Group NV increased its stake 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. Amundi increased its stake in shares of Flex by 15.5% in the 1st quarter. Amundi now owns 1,494,418 shares of the technology company’s stock valued at $97,825,000 after purchasing an additional 200,553 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Flex by 9.3% during the 1st quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock worth $84,714,000 after buying an additional 109,992 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Flex by 5.9% during the 1st quarter. Swiss National Bank now owns 1,085,250 shares of the technology company’s stock worth $71,040,000 after buying an additional 60,500 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Flex

These are some of the FLEX headlines that stood out recently:

• Positive Sentiment: Flex was highlighted as an AI-infrastructure company with attractive valuation and growth potential, alongside peers Super Micro Computer and Jabil. Zacks article
• Neutral Sentiment: Flex’s Innovation Day coverage featured a technology showcase with Axiom, but the available headline does not specify financial or commercial outcomes. Innovation Day coverage
• Negative Sentiment: KeyCorp cut its Flex price target to $128 from $180, a substantial reduction that could weigh on sentiment. It maintained an “overweight” rating, however, and the revised target still implies considerable upside from the reference price cited in the report. KeyCorp rating information

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Flex from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Bank of America lowered their target price on Flex from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings cut shares of Flex from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Freedom Capital raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $138.88.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 2,755 shares of Flex 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 of the company’s stock, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. 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. Corporate insiders own 0.62% of the company’s stock.

Flex Stock Down 1.1%

Shares of FLEX opened at $78.12 on Friday. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 0.37 and a beta of 1.80. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 1.34. The stock has a fifty day moving average of $99.92 and a 200-day moving average of $103.42.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. Flex had a return on equity of 24.93% and a net margin of 3.35%. The business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.17 billion. During the same quarter in the previous year, the company posted $0.79 EPS. Flex’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flex Ltd. will post 4.52 earnings per share for the current fiscal year.

Flex Profile

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support. The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.