Stifel Financial Corp Sells 27,191 Shares of Flex Ltd. (NASDAQ:FLEX)

Stifel Financial Corp lowered its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 478,920 shares of the technology company's stock after selling 27,191 shares during the period. Stifel Financial Corp owned 0.13% of Flex worth $18,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FLEX. Boston Partners lifted its holdings in shares of Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after buying an additional 569,916 shares in the last quarter. Vanguard Group Inc. raised its stake in Flex by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock worth $472,155,000 after purchasing an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Flex by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after purchasing an additional 916,085 shares during the period. JPMorgan Chase & Co. grew its position in shares of Flex by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock worth $246,006,000 after purchasing an additional 361,049 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Flex during the fourth quarter worth approximately $229,484,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flex

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 completion of the transaction, the director now owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the business'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 directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FLEX shares. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group cut their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. KeyCorp dropped 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. Finally, Stifel Nicolaus began coverage on shares of Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Flex currently has an average rating of "Buy" and a consensus target price of $43.67.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $35.22 on Friday. Flex Ltd. has a one year low of $25.11 and a one year high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 2.43 and a beta of 0.99. The firm has a 50 day simple moving average of $34.03 and a 200 day simple moving average of $37.34.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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%. Research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.

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