Mirova Sells 9,233 Shares of Flex Ltd. (NASDAQ:FLEX)

Mirova cut its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,460 shares of the technology company's stock after selling 9,233 shares during the period. Mirova's holdings in Flex were worth $3,511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLEX. Evergreen Capital Management LLC raised its position in Flex by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after purchasing an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock worth $488,000 after purchasing an additional 266 shares during the period. Sage Rhino Capital LLC lifted its holdings 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 acquiring an additional 374 shares in the last quarter. Arizona State Retirement System raised its position in shares of Flex by 0.4% during the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock worth $4,424,000 after purchasing an additional 403 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Flex by 11.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock valued at $170,000 after buying an additional 447 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the business'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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. This 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FLEX shares. 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. KeyCorp reduced their price target on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $43.67.

Flex Stock Up 5.3 %

FLEX traded up $1.67 during trading on Wednesday, reaching $32.94. 3,763,507 shares of the stock were exchanged, compared to its average volume of 3,970,231. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The stock's 50 day moving average price is $34.52 and its two-hundred day moving average price is $37.35. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The stock has a market cap of $12.62 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX - Get Free Report) last released 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 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.