Royce & Associates LP Trims Stake in Flex Ltd. (NASDAQ:FLEX)

Royce & Associates LP reduced its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 307,208 shares of the technology company's stock after selling 16,779 shares during the period. Royce & Associates LP owned 0.08% of Flex worth $10,270,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Boston Partners lifted its stake in Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company's stock valued at $548,519,000 after buying an additional 10,201,162 shares during the last quarter. Merewether Investment Management LP purchased a new stake in Flex in the 2nd quarter valued at $72,808,000. Point72 Asset Management L.P. boosted its stake in Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company's stock worth $21,495,000 after purchasing an additional 792,700 shares during the period. TCW Group Inc. grew its position in Flex by 48.1% during the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company's stock worth $50,479,000 after purchasing an additional 556,286 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Flex by 41.1% in the second quarter. Marshall Wace LLP now owns 1,136,410 shares of the technology company's stock valued at $33,513,000 after purchasing an additional 331,027 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the transaction, the executive vice president now directly owns 158,094 shares of the company's stock, valued at approximately $5,209,197.30. The trade was a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,185 shares of company stock valued at $1,442,555 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

Flex Price Performance

FLEX stock traded down $0.44 on Friday, reaching $37.20. 2,385,838 shares of the company's stock were exchanged, compared to its average volume of 2,799,888. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $40.30. 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 stock has a fifty day moving average of $34.12 and a 200-day moving average of $31.89. The firm has a market cap of $14.43 billion, a PE ratio of 16.46, a P/E/G ratio of 2.37 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flex has a consensus rating of "Buy" and an average target price of $40.83.

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.