Flex Ltd. (NASDAQ:FLEX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 41.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,500 shares of the technology company's stock after selling 22,000 shares during the quarter. Gabelli Funds LLC's holdings in Flex were worth $1,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FLEX. R Squared Ltd bought a new stake in shares of Flex in the 4th quarter worth $35,000. SBI Securities Co. Ltd. acquired a new position in Flex during the fourth quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares in the last quarter. Huntington National Bank lifted its holdings in 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 during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 704 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLEX has been the topic of several research reports. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target on the stock. Barclays lifted their price objective 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. The Goldman Sachs Group reduced their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. KeyCorp lowered their price target on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Flex has a consensus rating of "Buy" and a consensus price target of $43.67.

Insider Activity at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the company's 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 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 disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Flex Stock Up 2.0 %

Shares of FLEX stock opened at $31.54 on Friday. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock's 50 day simple moving average is $34.99 and its 200 day simple moving average is $37.38.

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

Flex Company 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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