Wellington Management Group LLP Has $796.44 Million Stake in Flex Ltd. (NASDAQ:FLEX)

Wellington Management Group LLP lowered its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 39.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,745,918 shares of the technology company’s stock after selling 13,619,944 shares during the period. Wellington Management Group LLP owned about 5.42% of Flex worth $796,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Flex in the fourth quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex during the fourth quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after purchasing an additional 509 shares during the period. EverSource Wealth Advisors LLC raised its holdings 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 worth $60,000 after buying an additional 704 shares in the last quarter. Finally, UMB Bank n.a. bought a new position in shares of Flex during the 4th quarter worth approximately $64,000. Institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FLEX shares. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target 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 research note on Thursday, January 30th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $44.33.

Flex Trading Down 0.3 %

FLEX opened at $33.08 on Tuesday. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The stock has a market capitalization of $12.67 billion, a PE ratio of 13.34, a PEG ratio of 2.43 and a beta of 1.07. 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 firm has a 50-day moving average price of $38.90 and a two-hundred day moving average price of $37.65.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

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.