Flex Ltd. (NASDAQ:FLEX) Stock Holdings Lessened by Clayton Partners LLC

Clayton Partners LLC reduced its stake in Flex Ltd. (NASDAQ:FLEX) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,115 shares of the technology company’s stock after selling 1,446 shares during the quarter. Flex comprises approximately 4.5% of Clayton Partners LLC’s portfolio, making the stock its 5th biggest holding. Clayton Partners LLC’s holdings in Flex were worth $6,569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FLEX. Janus Henderson Group PLC boosted its stake in Flex by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after buying an additional 344,773 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after purchasing an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value 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 trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FLEX shares. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.33.

Flex Price Performance

FLEX stock opened at $34.49 on Friday. 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 52-week low of $25.27 and a 52-week high of $45.10. The stock’s 50 day moving average is $40.19 and its two-hundred day moving average is $37.24. The company has a market capitalization of $13.21 billion, a PE ratio of 13.91, a P/E/G ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Analysts predict that Flex Ltd. will post 2.33 earnings per share 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.