Flex Ltd. (NASDAQ:FLEX) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 199.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,367 shares of the technology company's stock after purchasing an additional 25,549 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Flex were worth $1,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Huntington National Bank increased its stake in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after buying an additional 479 shares in the last quarter. R Squared Ltd purchased a new stake in Flex during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Flex during the 4th quarter worth approximately $38,000. First Horizon Advisors Inc. increased its stake in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after buying an additional 305 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock worth $60,000 after buying an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Price Performance

Shares of Flex stock traded up $0.34 on Friday, hitting $36.40. 8,769,539 shares of the company were exchanged, compared to its average volume of 3,778,101. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company has a 50-day moving average price of $39.68 and a 200 day moving average price of $37.37. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

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Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity at Flex

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FLEX shares. Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective for the company. Barclays boosted their price objective on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average 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.