ICM Asset Management Inc. WA Raises Stake in Flex Ltd (FLEX)
ICM Asset Management Inc. WA lifted its position in shares of Flex Ltd (NASDAQ:FLEX) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,150 shares of the technology company’s stock after purchasing an additional 20,180 shares during the quarter. Flex accounts for 3.1% of ICM Asset Management Inc. WA’s investment portfolio, making the stock its 8th largest holding. ICM Asset Management Inc. WA owned 0.08% of Flex worth $4,031,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its holdings in Flex by 119.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock worth $29,000 after buying an additional 2,084 shares in the last quarter. Fiera Capital Corp bought a new stake in Flex during the fourth quarter worth $80,000. FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in Flex by 83.3% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 11,000 shares of the technology company’s stock worth $84,000 after buying an additional 5,000 shares in the last quarter. Wetherby Asset Management Inc. bought a new stake in Flex during the fourth quarter worth $90,000. Finally, Actinver Wealth Management Inc. bought a new stake in Flex during the fourth quarter worth $196,000. 93.90% of the stock is currently owned by institutional investors.
NASDAQ:FLEX traded down $0.12 during trading on Monday, reaching $11.26. The company’s stock had a trading volume of 4,523,547 shares, compared to its average volume of 6,748,444. The company has a market capitalization of $5.88 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.94 and a beta of 1.78. 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.
FLEX has been the subject of a number of recent analyst reports. ValuEngine upgraded Flex from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. BidaskClub upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating in a research note on Monday, December 31st. Finally, JPMorgan Chase & Co. downgraded 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 note on Wednesday, January 2nd. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price 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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