28,036 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Xponance Inc.

Xponance Inc. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,036 shares of the technology company's stock, valued at approximately $1,076,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Flex in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new position in Flex in the fourth quarter valued at $38,000. First Horizon Advisors Inc. lifted its position in Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after buying an additional 305 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock valued at $60,000 after buying an additional 704 shares during the period. Finally, UMB Bank n.a. acquired a new position in shares of Flex in the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research reports. Barclays raised their price objective on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Stifel Nicolaus initiated 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. Finally, StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $44.33.

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Flex Stock Down 2.0 %

Shares of FLEX traded down $0.73 during mid-day trading on Tuesday, reaching $36.69. 1,191,922 shares of the stock traded hands, compared to its average volume of 3,772,061. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.43 and a beta of 1.07. The stock has a fifty day simple moving average of $39.64 and a 200 day simple moving average of $37.46. 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 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 quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 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%. Sell-side analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity at Flex

In related news, 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 transaction of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 202,850 shares of the company's stock, valued at $8,773,262.50. This trade represents a 19.77 % 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 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.