71,220 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 71,220 shares of the technology company's stock, valued at approximately $2,734,000. Flex comprises about 2.7% of Figure 8 Investment Strategies LLC's holdings, making the stock its 11th largest position.

A number of other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Flex in the third quarter valued at $29,000. Huntington National Bank increased its stake in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after purchasing an additional 479 shares in the last quarter. R Squared Ltd bought a new stake in Flex in the fourth quarter valued at $35,000. First Horizon Advisors Inc. increased its stake in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in Flex in the fourth quarter valued at $64,000. Institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLEX. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price for the company. Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Barclays boosted their target price on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $44.33.

Flex Stock Down 0.0 %

Flex stock traded down $0.02 during midday trading on Tuesday, hitting $42.50. 2,628,591 shares of the stock were exchanged, compared to its average volume of 3,519,073. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10. The business's 50-day moving average price is $40.72 and its 200-day moving average price is $36.40. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

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 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, research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were 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 $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was 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 owned by corporate insiders.

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.