Flex Ltd. (NASDAQ:FLEX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,518,809 shares of the technology company's stock after selling 496,128 shares during the period. Victory Capital Management Inc. owned about 1.42% of Flex worth $211,867,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of 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 buying an additional 305 shares during the last quarter. Stephens Inc. AR increased its position in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock worth $472,000 after purchasing an additional 361 shares during the last quarter. Sage Rhino Capital LLC increased its position in Flex by 1.1% during the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after purchasing an additional 374 shares during the last quarter. Raymond James Trust N.A. increased its position in Flex by 2.0% during the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company's stock worth $693,000 after purchasing an additional 413 shares during the last quarter. Finally, Huntington National Bank increased 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 last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

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Flex Stock Up 0.7 %

Shares of FLEX stock traded up $0.25 on Friday, hitting $34.70. The stock had a trading volume of 4,784,678 shares, compared to its average volume of 3,833,612. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.43 and a beta of 1.07. The stock's 50 day moving average is $40.69 and its 200-day moving average is $37.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10.

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

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. Barclays upped their price target 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. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $44.33.

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.