Wells Fargo & Company MN Sells 30,097 Shares of Flex Ltd. (NASDAQ:FLEX)

Wells Fargo & Company MN lessened its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,436,251 shares of the technology company's stock after selling 30,097 shares during the quarter. Wells Fargo & Company MN owned 0.37% of Flex worth $55,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. HighTower Advisors LLC increased its position in Flex by 9.6% in the third quarter. HighTower Advisors LLC now owns 121,037 shares of the technology company's stock worth $4,045,000 after buying an additional 10,560 shares during the last quarter. State Street Corp increased its holdings in Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock worth $122,503,000 after acquiring an additional 603,208 shares during the last quarter. National Bank of Canada FI raised its stake in Flex by 0.4% in the 3rd quarter. National Bank of Canada FI now owns 381,461 shares of the technology company's stock valued at $12,751,000 after acquiring an additional 1,382 shares during the period. MML Investors Services LLC lifted its holdings in Flex by 7.4% during the third quarter. MML Investors Services LLC now owns 57,390 shares of the technology company's stock valued at $1,919,000 after purchasing an additional 3,964 shares during the last quarter. Finally, Barclays PLC boosted its position in Flex by 42.6% during the third quarter. Barclays PLC now owns 774,856 shares of the technology company's stock worth $25,902,000 after purchasing an additional 231,572 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated 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 sale, the director now owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Flex Price Performance

Flex stock traded up $0.89 during mid-day trading on Tuesday, hitting $31.54. 835,924 shares of the company traded hands, compared to its average volume of 3,956,707. 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 one year low of $25.11 and a one year high of $45.10. The stock has a market cap of $12.08 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The stock has a fifty day moving average price of $35.95 and a 200-day moving average price of $37.45.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays upped their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. KeyCorp cut their price target on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus assumed coverage on Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective on the stock. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group decreased 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. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $43.67.

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.