Pacer Advisors Inc. Raises Holdings in Flex Ltd. (NASDAQ:FLEX)

Pacer Advisors Inc. raised its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 22,534.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,466 shares of the technology company's stock after purchasing an additional 74,137 shares during the period. Pacer Advisors Inc.'s holdings in Flex were worth $2,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in Flex during the third quarter worth $29,000. Huntington National Bank raised its position in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex during the 3rd quarter worth $39,000. Quarry LP bought a new stake in Flex during the second quarter valued at about $43,000. Finally, First Horizon Advisors Inc. grew its stake in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. Stifel Nicolaus raised their target price on shares of Flex from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Craig Hallum increased their price objective on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flex presently has an average rating of "Buy" and a consensus target price of $43.67.

Flex Stock Performance

Shares of FLEX traded up $1.42 during trading hours on Tuesday, reaching $41.92. 4,400,678 shares of the company traded hands, compared to its average volume of 3,744,625. The stock has a market capitalization of $16.26 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.43 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average price of $39.99 and a 200-day moving average price of $35.65. Flex Ltd. has a 12-month low of $24.05 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. Equities analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now directly owns 55,713 shares of the company's stock, valued at approximately $2,155,535.97. The trade was a 19.10 % 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. 0.82% of the stock is currently owned by 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.