49,775 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 49,775 shares of the technology company's stock, valued at approximately $1,911,000.

A number of other large investors have also modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of Flex by 1.3% during the third 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 period. Massachusetts Financial Services Co. MA increased its position in shares of Flex by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock worth $237,216,000 after acquiring an additional 31,214 shares during the period. JPMorgan Chase & Co. increased its position in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after acquiring an additional 296,505 shares during the period. Geode Capital Management LLC increased its position in shares of Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the period. Finally, State Street Corp increased its position in shares of Flex by 19.7% during the third 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 period. Hedge funds and other institutional investors own 94.30% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on FLEX shares. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They issued 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Flex currently has a consensus rating of "Buy" and an average price target of $44.33.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Flex Stock Performance

NASDAQ FLEX traded up $1.16 during trading hours on Wednesday, hitting $35.95. The company had a trading volume of 2,147,044 shares, compared to its average volume of 3,783,452. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a market cap of $13.77 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The business has a 50 day moving average of $39.96 and a 200-day moving average of $37.31.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data 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 net margin of 3.95% and a return on equity of 17.93%. As a group, equities research analysts expect that Flex Ltd. will post 2.33 EPS for the current 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.