Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 41,800 Shares of Flex Ltd (NASDAQ:FLEX)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Flex Ltd (NASDAQ:FLEX) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 260,214 shares of the technology company’s stock after purchasing an additional 41,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.05% of Flex worth $2,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FLEX. Steward Partners Investment Advisory LLC bought a new position in Flex during the 2nd quarter worth approximately $25,000. Shine Investment Advisory Services Inc. boosted its stake in Flex by 33.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 4,071 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,024 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Flex during the 2nd quarter worth approximately $40,000. Point72 Asset Management L.P. bought a new position in Flex during the 2nd quarter worth approximately $40,000. Finally, Dynamic Capital Management Ltd bought a new position in Flex during the 3rd quarter worth approximately $109,000. 93.73% of the stock is currently owned by institutional investors.

Shares of FLEX stock opened at $11.83 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.76 and a current ratio of 1.26. The company has a market capitalization of $6.18 billion, a P/E ratio of 65.72, a price-to-earnings-growth ratio of 2.26 and a beta of 1.85. The company’s 50 day moving average price is $10.63 and its two-hundred day moving average price is $10.21. Flex Ltd has a 52 week low of $7.16 and a 52 week high of $12.54.

Flex (NASDAQ:FLEX) last announced its earnings results on Thursday, October 24th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.39. The firm had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $6.29 billion. Flex had a negative net margin of 0.71% and a negative return on equity of 6.13%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Analysts forecast that Flex Ltd will post 0.35 earnings per share for the current year.

In other Flex news, CFO Christopher Collier sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $11.72, for a total transaction of $410,200.00. Following the sale, the chief financial officer now directly owns 1,214,143 shares in the company, valued at approximately $14,229,755.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Several research analysts recently weighed in on FLEX shares. BidaskClub raised shares of Flex from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. ValuEngine downgraded shares of Flex from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Zacks Investment Research upgraded shares of Flex from a “strong sell” rating to a “hold” rating and set a $8.75 target price on the stock in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.58.

Flex Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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