Flex Ltd. (NASDAQ:FLEX) Stock Holdings Lowered by Globeflex Capital L P

Globeflex Capital L P lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 74.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,775 shares of the technology company’s stock after selling 14,021 shares during the period. Globeflex Capital L P’s holdings in Flex were worth $183,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Huntington National Bank grew its position in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after acquiring an additional 479 shares during the last quarter. R Squared Ltd bought a new position in shares of Flex during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex in the fourth quarter worth about $38,000. First Horizon Advisors Inc. lifted its holdings in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Flex by 82.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after purchasing an additional 704 shares during the period. Institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

FLEX has been the subject of several research analyst reports. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Five research 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, Flex has an average rating of “Buy” and a consensus price target of $44.33.

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction dated 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 owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $34.49 on Friday. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.43 and a beta of 1.07. The firm has a 50-day moving average of $40.19 and a two-hundred day moving average of $37.24.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect 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.