Earnest Partners LLC Has $153.28 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Earnest Partners LLC decreased its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,992,649 shares of the technology company's stock after selling 60,611 shares during the quarter. Earnest Partners LLC owned approximately 1.04% of Flex worth $153,278,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Flex during the fourth quarter valued at $229,484,000. Invesco Ltd. lifted its holdings in shares of Flex by 42.9% during the 4th quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company's stock valued at $207,107,000 after buying an additional 1,620,812 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Flex by 210.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company's stock valued at $75,148,000 after buying an additional 1,327,298 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Flex by 13,790.0% in the fourth quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company's stock worth $47,528,000 after buying an additional 1,229,106 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Flex by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock worth $326,833,000 after acquiring an additional 916,085 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the business'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 transaction of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of Flex 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 sale, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % 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

FLEX opened at $35.22 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock's 50 day moving average price is $34.03 and its two-hundred day moving average price is $37.36. The firm has a market capitalization of $13.49 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.95% and a return on equity of 17.93%. On average, equities analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FLEX shares. The Goldman Sachs Group cut their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. KeyCorp reduced 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. Barclays increased their price objective on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Flex presently has an average rating of "Buy" and an average target price of $43.67.

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.

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