Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 9,463 shares of the technology company’s stock, valued at approximately $363,000.

Several other institutional investors and hedge funds have also modified their holdings of FLEX. Sage Rhino Capital LLC increased its position in shares of Flex by 1.1% during the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock worth $1,358,000 after acquiring an additional 374 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Flex by 0.4% in the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock valued at $4,424,000 after purchasing an additional 403 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Flex by 6.4% in the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock valued at $400,000 after purchasing an additional 630 shares in the last quarter. Wahed Invest LLC boosted its position in shares of Flex by 7.4% during the third quarter. Wahed Invest LLC now owns 9,637 shares of the technology company’s stock worth $322,000 after buying an additional 667 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after buying an additional 704 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target for the company. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Barclays boosted their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Flex presently has an average rating of “Buy” and an average target price of $44.33.

Flex Price Performance

NASDAQ:FLEX opened at $34.46 on Friday. The stock has a market capitalization of $13.20 billion, a PE ratio of 13.90, a P/E/G ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The firm has a fifty day simple moving average of $39.28 and a 200 day simple moving average of $37.48. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

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.