Flex Ltd. (NASDAQ:FLEX) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT reduced its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 72.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,884 shares of the technology company's stock after selling 386,341 shares during the period. Flex comprises about 1.5% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 23rd biggest position. Iridian Asset Management LLC CT's holdings in Flex were worth $5,639,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after acquiring an additional 3,844,935 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Flex by 462.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock worth $88,247,000 after buying an additional 2,170,262 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Flex during the third quarter worth about $22,075,000. State Street Corp boosted its position in Flex by 19.7% during the third quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock worth $122,503,000 after purchasing an additional 603,208 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Flex by 2,600.1% during the third quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company's stock worth $16,503,000 after acquiring an additional 475,376 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

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 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 completion of the transaction, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Craig Hallum raised their target price on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Stifel Nicolaus started coverage on shares of Flex in a research report on Tuesday. They set a "buy" rating and a $52.00 price objective for the company. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. Barclays boosted their price target on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Flex from a "buy" rating to a "hold" rating in a report on Saturday, February 1st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Flex presently has a consensus rating of "Buy" and an average target price of $44.33.

Flex Price Performance

Shares of NASDAQ FLEX traded down $0.34 during mid-day trading on Tuesday, reaching $42.69. 2,038,366 shares of the company were exchanged, compared to its average volume of 3,688,471. The company's 50 day moving average price is $40.27 and its 200 day moving average price is $35.93. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $16.35 billion, a PE ratio of 17.21, a PEG ratio of 2.58 and a beta of 1.10.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results 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%. Sell-side analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.