Artisan Partners Limited Partnership grew its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,337,150 shares of the technology company's stock after purchasing an additional 367,179 shares during the period. Artisan Partners Limited Partnership owned approximately 0.61% of Flex worth $89,723,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Flex during the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Flex during the 4th quarter valued at $38,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Flex by 112.9% during the 4th 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 during the period. EverSource Wealth Advisors LLC increased its holdings in Flex by 82.9% in 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. Finally, UMB Bank n.a. acquired a new position in shares of Flex during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 94.30% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. Finally, Barclays upped their target price on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flex presently has an average rating of "Buy" and an average price target of $44.33.
Check Out Our Latest Report on FLEX
Insider Buying and Selling at Flex
In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction on 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 sale, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents 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.
Flex Stock Up 0.8 %
Shares of Flex stock traded up $0.28 on Tuesday, hitting $33.36. 2,032,577 shares of the company's stock traded hands, compared to its average volume of 3,860,120. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm's 50-day moving average is $38.68 and its 200 day moving average is $37.68. The stock has a market cap of $12.78 billion, a P/E ratio of 13.45, a PEG ratio of 2.43 and a beta of 1.07. 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 announced 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 net margin of 3.95% and a return on equity of 17.93%. Equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.
About Flex
(
Free Report)
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.
Further Reading
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