Flex Ltd. (NASDAQ:FLEX) Holdings Trimmed by Amundi

Amundi cut its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 594,993 shares of the technology company's stock after selling 56,974 shares during the quarter. Amundi owned approximately 0.15% of Flex worth $24,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd bought a new position in Flex during the 4th quarter worth $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Flex during the fourth quarter valued at $38,000. Huntington National Bank grew its position in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after acquiring an additional 305 shares during the period. Finally, UMB Bank n.a. bought a new stake in Flex in the 4th quarter valued at about $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 233,526 shares of the company's stock, valued at $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated Monday, February 10th. The stock was 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 directly owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several research firms have commented on FLEX. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. Five equities research 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, the company has an average rating of "Buy" and a consensus target price of $44.33.

Flex Price Performance

NASDAQ:FLEX traded up $0.74 during midday trading on Monday, hitting $35.23. 2,389,963 shares of the stock were exchanged, compared to its average volume of 3,810,332. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 2.43 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The business has a 50-day moving average price of $40.19 and a two-hundred day moving average price of $37.27.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Flex Company 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.