Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Legal & General Group Plc

Legal & General Group Plc grew its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,016,245 shares of the technology company's stock after purchasing an additional 87,776 shares during the quarter. Legal & General Group Plc owned about 0.79% of Flex worth $115,794,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FLEX. R Squared Ltd purchased a new stake in shares of Flex during the 4th quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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. SBI Securities Co. Ltd. purchased a new stake in Flex in the 4th quarter valued at about $38,000. Huntington National Bank increased its position in shares of Flex by 46.7% during the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after acquiring an additional 478 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 704 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Stifel Nicolaus started coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. Barclays upped their target price on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. The Goldman Sachs Group cut their price objective on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, KeyCorp lowered their target price on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex currently has an average rating of "Buy" and a consensus price target of $43.67.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares of the company's stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred 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 completion of the transaction, the director now 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. Insiders own 0.82% of the company's stock.

Flex Stock Down 0.1 %

FLEX stock traded down $0.03 during trading on Wednesday, hitting $31.34. 624,938 shares of the company's stock were exchanged, compared to its average volume of 3,861,644. The business has a 50-day moving average price of $35.69 and a two-hundred day moving average price of $37.41. 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 stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 12.64, 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.

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