Dimensional Fund Advisors LP Grows Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Dimensional Fund Advisors LP boosted its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 12.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,513,078 shares of the technology company's stock after acquiring an additional 916,085 shares during the quarter. Dimensional Fund Advisors LP owned 2.22% of Flex worth $326,833,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of Flex during the fourth quarter worth approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after buying an additional 509 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Flex in the fourth quarter worth about $38,000. Huntington National Bank boosted its position in Flex by 46.7% during the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock worth $58,000 after acquiring an additional 478 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 valued at $60,000 after acquiring an additional 704 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. KeyCorp dropped their price target on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. The Goldman Sachs Group dropped their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Flex has an average rating of "Buy" and an average price target of $43.67.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of Flex 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. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

Flex Trading Up 1.6 %

Flex stock traded up $0.56 during trading on Friday, hitting $35.22. The company had a trading volume of 4,126,233 shares, compared to its average volume of 3,981,392. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company's 50 day simple moving average is $34.03 and its 200-day simple moving average is $37.34. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

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