Geode Capital Management LLC Acquires 132,457 Shares of Flex Ltd. (NASDAQ:FLEX)

Geode Capital Management LLC boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,598,271 shares of the technology company's stock after acquiring an additional 132,457 shares during the period. Geode Capital Management LLC owned approximately 1.20% of Flex worth $176,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. United Services Automobile Association bought a new position in shares of Flex during the 4th quarter valued at about $982,000. Brandywine Global Investment Management LLC raised its holdings in Flex by 219.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock worth $5,119,000 after buying an additional 91,571 shares during the period. Mutual of America Capital Management LLC bought a new position in Flex in the fourth quarter valued at approximately $7,864,000. Raymond James Financial Inc. acquired a new position in shares of Flex in the fourth quarter valued at approximately $32,293,000. Finally, American Century Companies Inc. increased its position in shares of Flex by 19.7% during the fourth quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock worth $26,637,000 after acquiring an additional 114,350 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on FLEX. KeyCorp reduced their target price on shares of Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday. Barclays boosted their price target on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective for the company. The Goldman Sachs Group reduced their price target on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $43.67.

Flex Stock Up 0.6 %

FLEX stock traded up $0.17 during mid-day trading on Friday, reaching $29.59. The company had a trading volume of 3,829,359 shares, compared to its average volume of 3,970,512. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.43 and a beta of 0.99. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The stock has a 50 day simple moving average of $36.20 and a two-hundred day simple moving average of $37.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % 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 hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

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.