Harvest Fund Management Co. Ltd Acquires 5,489 Shares of Flex Ltd. $FLEX

by · The Cerbat Gem

Harvest Fund Management Co. Ltd increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 24.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,396 shares of the technology company’s stock after purchasing an additional 5,489 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Flex were worth $1,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLEX. USA Financial Formulas bought a new position in shares of Flex during the fourth quarter valued at $28,000. Frazier Financial Advisors LLC purchased a new position in shares of Flex in the 4th quarter worth $28,000. CENTRAL TRUST Co boosted its stake in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after buying an additional 355 shares during the last quarter. Gables Capital Management Inc. purchased a new position in shares of Flex in the 4th quarter worth $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flex in the 3rd quarter worth $52,000. 94.30% of the stock is owned by institutional investors.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

  • Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
  • Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
  • Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
  • Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Flex Trading Down 4.8%

Shares of FLEX stock opened at $151.92 on Friday. Flex Ltd. has a 12-month low of $42.60 and a 12-month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average price is $107.57 and its 200-day moving average price is $78.73. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 65.20, a price-to-earnings-growth ratio of 0.84 and a beta of 1.64.

Flex (NASDAQ:FLEX – Get Free Report) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion for the quarter. Equities research analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 33,000 shares of Flex stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total value of $2,378,775.00. Following the completion of the sale, the chief operating officer directly owned 238,543 shares in the company, valued at $32,425,149.99. This trade represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 362,512 shares of company stock valued at $49,538,328. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on FLEX. The Goldman Sachs Group raised their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.70.

View Our Latest Analysis on FLEX

About Flex

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX – Free Report).