Boston Partners Boosts Position in Flex Ltd. (NASDAQ:FLEX)

Boston Partners lifted its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,114,574 shares of the technology company's stock after buying an additional 569,916 shares during the quarter. Flex comprises 1.2% of Boston Partners' investment portfolio, making the stock its 8th largest holding. Boston Partners owned 6.82% of Flex worth $1,006,436,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FLEX. KBC Group NV boosted its position in Flex by 10.3% during the third quarter. KBC Group NV now owns 10,706 shares of the technology company's stock worth $358,000 after purchasing an additional 1,003 shares during the period. Huntington National Bank boosted its position in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after purchasing an additional 479 shares during the period. CIBC Asset Management Inc boosted its position in Flex by 5.5% during the third quarter. CIBC Asset Management Inc now owns 15,132 shares of the technology company's stock worth $506,000 after purchasing an additional 786 shares during the period. Natixis Advisors LLC boosted its position in Flex by 38.7% during the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company's stock worth $1,185,000 after purchasing an additional 9,892 shares during the period. Finally, Pathstone Holdings LLC boosted its position in Flex by 5.5% during the third quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company's stock worth $2,018,000 after purchasing an additional 3,121 shares during the period. Institutional investors own 94.30% of the company's stock.

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Flex Stock Performance

Shares of NASDAQ FLEX traded up $0.34 during trading hours on Friday, reaching $36.40. The stock had a trading volume of 8,769,539 shares, compared to its average volume of 3,780,467. The business's fifty day moving average is $39.68 and its two-hundred day moving average is $37.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates 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, research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FLEX. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Barclays upped their price target on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. 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 for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $44.33.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the 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 approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction 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 sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.

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.