Sei Investments Co. Reduces Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Sei Investments Co. reduced its position in shares of Flex Ltd. (NASDAQ:FLEX) by 24.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,032,887 shares of the technology company’s stock after selling 337,919 shares during the period. Sei Investments Co. owned 0.27% of Flex worth $39,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Flex during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex during the fourth quarter worth $38,000. First Horizon Advisors Inc. raised its position in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 704 shares during the last quarter. Finally, UMB Bank n.a. purchased a new position in shares of Flex during the 4th quarter worth $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Up 2.8 %

NASDAQ FLEX opened at $37.42 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.43 and a beta of 1.07. The firm has a 50 day simple moving average of $39.64 and a 200-day simple moving average of $37.46. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FLEX shares. Stifel Nicolaus initiated coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. 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. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.33.

Insider Buying and Selling

In other 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 completion of the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the company’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 transaction of $2,162,500.00. Following the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was 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 insiders.

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.