XTX Topco Ltd Makes New $1.60 Million Investment in Flex Ltd. (NASDAQ:FLEX)

XTX Topco Ltd acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 54,084 shares of the technology company’s stock, valued at approximately $1,595,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Flex in the fourth quarter valued at approximately $165,000,000. Coldstream Capital Management Inc. bought a new stake in Flex in the 4th quarter valued at $352,000. Assetmark Inc. boosted its stake in Flex by 50.8% in the 4th quarter. Assetmark Inc. now owns 14,641 shares of the technology company’s stock worth $446,000 after purchasing an additional 4,931 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in Flex by 52.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,502 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC acquired a new stake in shares of Flex in the 4th quarter valued at about $201,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and increased their target price for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. Finally, Barclays lifted their price target on shares of Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $38.40.

Insider Activity

In related news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the transaction, the insider now owns 175,468 shares in the company, valued at $5,576,373.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares of the company’s stock, valued at $5,377,327.06. The disclosure for this sale can be found here. Insiders have sold 28,028 shares of company stock valued at $904,530 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

Flex Stock Performance

NASDAQ FLEX opened at $32.40 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $30.65 and its two-hundred day moving average price is $30.04. The firm has a market capitalization of $12.92 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $34.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. As a group, research analysts anticipate that Flex Ltd. will post 2.09 EPS for the current year.

Flex 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.