Flex Ltd. (NASDAQ:FLEX) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 30.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,342 shares of the technology company's stock after selling 9,725 shares during the period. Tower Research Capital LLC TRC's holdings in Flex were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. R Squared Ltd acquired a new stake in Flex during the 4th quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after purchasing an additional 509 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Flex in the 4th quarter valued at about $38,000. Huntington National Bank boosted its position 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 purchasing an additional 478 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock worth $60,000 after buying an additional 704 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of Flex 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 completion of the sale, the director now owns 202,850 shares of the company's stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated 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 owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Flex Stock Up 1.6 %

FLEX stock opened at $35.22 on Friday. The company's 50-day moving average price is $34.03 and its 200 day moving average price is $37.34. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.49 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 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, research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp dropped their price target on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus initiated coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective on the stock. Barclays lifted their target price on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex has a consensus rating of "Buy" and an average price target of $43.67.

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.

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