KBC Group NV Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

KBC Group NV increased its holdings in Flex Ltd. (NASDAQ:FLEX) by 872.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 104,132 shares of the technology company’s stock after buying an additional 93,426 shares during the quarter. KBC Group NV’s holdings in Flex were worth $3,998,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Flex during the third quarter valued at approximately $29,000. Huntington National Bank lifted its holdings in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of Flex in the 3rd quarter worth $39,000. Quarry LP bought a new stake in shares of Flex in the second quarter worth $43,000. Finally, First Horizon Advisors Inc. increased its position in Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Craig Hallum boosted their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Finally, Stifel Nicolaus boosted their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $43.67.

Insider Transactions at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

Flex Trading Up 1.4 %

Shares of FLEX stock opened at $42.08 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The stock has a fifty day simple moving average of $39.95 and a two-hundred day simple moving average of $35.35. The firm has a market capitalization of $16.32 billion, a PE ratio of 18.62, a PEG ratio of 2.81 and a beta of 1.10. Flex Ltd. has a 52-week low of $23.64 and a 52-week high of $45.10.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 16.66% and a net margin of 3.62%. On average, analysts predict that Flex Ltd. will post 2.15 EPS for the current fiscal year.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.