Shelton Capital Management Makes New $568,000 Investment in Flex Ltd. (NASDAQ:FLEX)

Shelton Capital Management acquired a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,800 shares of the technology company's stock, valued at approximately $568,000.

Other hedge funds also recently made changes to their positions in the company. United Services Automobile Association bought a new stake in shares of Flex in the 4th quarter worth approximately $982,000. Brandywine Global Investment Management LLC increased its holdings in shares of Flex by 219.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock worth $5,119,000 after acquiring an additional 91,571 shares during the period. Mutual of America Capital Management LLC acquired a new position in Flex during the 4th quarter valued at about $7,864,000. Raymond James Financial Inc. acquired a new position in shares of Flex during the fourth quarter worth approximately $32,293,000. Finally, American Century Companies Inc. increased its position in Flex by 19.7% in the 4th quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock valued at $26,637,000 after acquiring an additional 114,350 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Insiders Place Their Bets

In other news, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael P. Hartung sold 64,807 shares of the company's 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 completion of the sale, the insider now owns 233,526 shares of the company's stock, valued at $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of recent analyst reports. KeyCorp decreased their target price on shares of 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 target on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays raised their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, StockNews.com raised Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $43.67.

Flex Stock Up 3.1 %

Shares of FLEX traded up $0.95 during trading hours on Tuesday, reaching $31.60. The company's stock had a trading volume of 1,020,544 shares, compared to its average volume of 3,883,909. The company has a 50 day moving average of $35.95 and a two-hundred day moving average of $37.45. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 2.43 and a beta of 0.99. 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 issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, research analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

About Flex

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.