238,387 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 238,387 shares of the technology company's stock, valued at approximately $9,152,000. ExodusPoint Capital Management LP owned 0.06% of Flex as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sage Rhino Capital LLC grew its holdings in shares of Flex by 1.1% in the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock valued at $1,358,000 after buying an additional 374 shares during the period. Arizona State Retirement System boosted its stake in shares of Flex by 0.4% during the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock worth $4,424,000 after buying an additional 403 shares during the last quarter. Huntington National Bank grew its holdings in shares of Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after acquiring an additional 478 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after purchasing an additional 509 shares during the last quarter. Finally, Kesler Norman & Wride LLC grew its stake in Flex by 3.9% in the fourth quarter. Kesler Norman & Wride LLC now owns 13,462 shares of the technology company's stock valued at $517,000 after purchasing an additional 511 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Analyst Ratings Changes

FLEX has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. KeyCorp dropped their target price on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Stifel Nicolaus started coverage on Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $43.33.

Flex Trading Down 8.0 %

NASDAQ FLEX traded down $2.54 on Thursday, hitting $29.04. The company's stock had a trading volume of 1,181,615 shares, compared to its average volume of 3,951,522. The firm has a market cap of $11.12 billion, a PE ratio of 11.71, a PEG ratio of 2.43 and a beta of 0.99. The company's 50-day moving average is $36.67 and its 200 day moving average is $37.48. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly 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 net margin of 3.95% and a return on equity of 17.93%. As a group, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the firm'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 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. Corporate insiders own 0.82% of the company's stock.

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.