Charles Schwab Investment Management Inc. cut its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,575,997 shares of the technology company's stock after selling 63,772 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.66% of Flex worth $98,893,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLEX. State of Alaska Department of Revenue acquired a new stake in Flex in the fourth quarter worth $1,697,000. One Wealth Advisors LLC acquired a new stake in Flex in the fourth quarter worth $368,000. JPMorgan Chase & Co. raised its holdings in Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Mutual of America Capital Management LLC acquired a new stake in Flex in the fourth quarter worth $7,864,000. Finally, KBC Group NV raised its holdings in Flex by 872.7% in the fourth quarter. KBC Group NV now owns 104,132 shares of the technology company's stock worth $3,998,000 after purchasing an additional 93,426 shares during the period. 94.30% of the stock is owned by institutional investors.
Insider Buying and Selling at Flex
In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated 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 transaction, the insider now owns 233,526 shares of the company's stock, 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 at this link. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on FLEX shares. Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective on the stock. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Barclays raised their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $44.33.
View Our Latest Research Report on Flex
Flex Stock Up 0.7 %
Shares of FLEX stock opened at $34.70 on Monday. 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 1 year low of $25.27 and a 1 year high of $45.10. The firm's fifty day moving average price is $40.69 and its two-hundred day moving average price is $37.22. The firm has a market capitalization of $13.29 billion, a P/E ratio of 13.99, a PEG ratio of 2.43 and a beta of 1.07.
Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly 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 net margin of 3.95% and a return on equity of 17.93%. On average, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.
About Flex
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX - Free Report).
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