Asset Management One Co. Ltd. Purchases Shares of 31,158 Flex Ltd. (NASDAQ:FLEX)

Asset Management One Co. Ltd. bought a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,158 shares of the technology company's stock, valued at approximately $1,219,000.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in Flex in the third quarter valued at approximately $29,000. R Squared Ltd acquired a new position in Flex in the fourth quarter valued at approximately $35,000. Huntington National Bank lifted its holdings in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after acquiring an additional 479 shares during the period. First Horizon Advisors Inc. lifted its holdings in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after acquiring an additional 305 shares during the period. Finally, UMB Bank n.a. acquired a new position in Flex in the fourth quarter valued at approximately $64,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 202,850 shares of the company's stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target for the company. Barclays upped their target price on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Craig Hallum upped their target price on Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $44.33.

Flex Price Performance

NASDAQ FLEX traded down $1.34 during mid-day trading on Friday, hitting $40.35. The stock had a trading volume of 3,552,565 shares, compared to its average volume of 3,452,899. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The firm's 50 day moving average is $41.01 and its 200 day moving average is $36.66. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.48 and a beta of 1.10. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal 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.