Flex Ltd (FLEX) is ICM Asset Management Inc. WA’s 8th Largest Position

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ICM Asset Management Inc. WA raised its holdings in Flex Ltd (NASDAQ:FLEX) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 403,150 shares of the technology company’s stock after acquiring an additional 20,180 shares during the period. Flex makes up 3.1% of ICM Asset Management Inc. WA’s investment portfolio, making the stock its 8th largest position. ICM Asset Management Inc. WA’s holdings in Flex were worth $4,031,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FLEX. Deutsche Bank AG increased its position in shares of Flex by 242.6% during the 4th quarter. Deutsche Bank AG now owns 10,302,561 shares of the technology company’s stock valued at $78,401,000 after purchasing an additional 7,295,561 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Flex by 80.3% during the 4th quarter. Geode Capital Management LLC now owns 700,162 shares of the technology company’s stock valued at $5,302,000 after purchasing an additional 311,812 shares during the last quarter. Norges Bank bought a new position in shares of Flex during the 4th quarter valued at about $38,403,000. Actinver Wealth Management Inc. bought a new position in shares of Flex during the 4th quarter valued at about $196,000. Finally, FMR LLC increased its position in shares of Flex by 350.5% during the 4th quarter. FMR LLC now owns 10,366,013 shares of the technology company’s stock valued at $78,886,000 after purchasing an additional 8,065,169 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

FLEX traded down $0.12 on Monday, hitting $11.26. 4,523,547 shares of the company were exchanged, compared to its average volume of 6,748,444. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 0.75. Flex Ltd has a 12 month low of $6.74 and a 12 month high of $17.50. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.94 and a beta of 1.78.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. Flex had a return on equity of 4.47% and a net margin of 0.52%. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company earned $0.31 EPS. Flex’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flex Ltd will post 0.66 EPS for the current year.

FLEX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered Flex from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $12.00 in a research report on Wednesday, January 2nd. BidaskClub upgraded Flex from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. ValuEngine lowered Flex from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.17.

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Flex Company 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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