Natixis Advisors LLC Has $2.24 Million Stake in Flex Ltd. (NASDAQ:FLEX)

Natixis Advisors LLC grew its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 64.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,239 shares of the technology company's stock after purchasing an additional 22,797 shares during the period. Natixis Advisors LLC's holdings in Flex were worth $2,236,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FLEX. Raymond James Financial Inc. purchased a new stake in Flex in the 4th quarter worth approximately $32,293,000. Mutual of America Capital Management LLC purchased a new stake in shares of Flex during the fourth quarter worth $7,864,000. State of Alaska Department of Revenue acquired a new stake in shares of Flex during the 4th quarter valued at about $1,697,000. One Wealth Advisors LLC acquired a new stake in Flex in the fourth quarter valued at approximately $368,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after purchasing an additional 296,505 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on FLEX shares. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective on the stock. Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flex currently has a consensus rating of "Buy" and a consensus price target of $44.33.

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Flex Stock Performance

Shares of FLEX stock traded down $0.78 during trading hours on Tuesday, reaching $36.64. 1,119,457 shares of the company's stock were exchanged, compared to its average volume of 3,772,061. The stock has a market capitalization of $14.04 billion, a P/E ratio of 14.77, a P/E/G ratio of 2.43 and a beta of 1.07. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10. The business has a fifty day moving average price of $39.64 and a 200-day moving average price of $37.46. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction on 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 sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the company'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 owns 202,850 shares in the company, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

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.