Advisors Asset Management Inc. Purchases 13,226 Shares of Flex Ltd. (NASDAQ:FLEX)

Advisors Asset Management Inc. grew its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,480 shares of the technology company's stock after purchasing an additional 13,226 shares during the period. Advisors Asset Management Inc.'s holdings in Flex were worth $2,475,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Flex by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock worth $898,389,000 after acquiring an additional 344,773 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock worth $237,216,000 after buying an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after buying an additional 296,505 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock valued at $149,350,000 after buying an additional 3,844,935 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Flex by 19.7% during the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock worth $122,503,000 after acquiring an additional 603,208 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

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Flex Trading Down 1.5 %

Shares of FLEX traded down $0.55 during trading hours on Tuesday, reaching $36.88. 512,996 shares of the company traded hands, compared to its average volume of 3,772,061. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company's fifty day moving average price is $39.64 and its two-hundred day moving average price is $37.46. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

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, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Equities research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

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

Analyst Ratings Changes

A number of research firms have recently weighed in on FLEX. Barclays boosted their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Flex presently has a consensus rating of "Buy" and a consensus price target of $44.33.

About Flex

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.