Royce & Associates LP cut its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 282,657 shares of the technology company's stock after selling 24,551 shares during the quarter. Royce & Associates LP owned 0.07% of Flex worth $10,851,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of FLEX. KBC Group NV raised its position in Flex by 10.3% in the third quarter. KBC Group NV now owns 10,706 shares of the technology company's stock worth $358,000 after acquiring an additional 1,003 shares in the last quarter. Huntington National Bank raised its holdings 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 purchasing an additional 479 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Flex by 5.5% during the third quarter. CIBC Asset Management Inc now owns 15,132 shares of the technology company's stock valued at $506,000 after purchasing an additional 786 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Flex by 38.7% during the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company's stock worth $1,185,000 after buying an additional 9,892 shares in the last quarter. Finally, Pathstone Holdings LLC grew its position in Flex by 5.5% in the third quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company's stock worth $2,018,000 after buying an additional 3,121 shares during the last quarter. Institutional investors own 94.30% of the company's stock.
Insider Transactions at Flex
In related news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value 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 represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction 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 $10,249,456.14. This trade represents a 21.72 % 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 company insiders.
Flex Stock Up 0.9 %
Shares of FLEX stock traded up $0.34 on Friday, reaching $36.40. 8,769,539 shares of the company's stock traded hands, compared to its average volume of 3,793,831. The business's 50 day moving average price is $39.76 and its two-hundred day moving average price is $37.29. The company has a market capitalization of $13.94 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a 12-month low of $25.27 and a 12-month 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 for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.
Wall Street Analyst Weigh In
FLEX has been the subject of a number of recent research reports. Barclays increased their price objective on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target for the company. Finally, StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $44.33.
Get Our Latest Report on FLEX
About Flex
(
Free Report)
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.
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