Mirabella Financial Services LLP Takes $2.05 Million Position in Flex Ltd. (NASDAQ:FLEX)

Mirabella Financial Services LLP bought a new position in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 53,475 shares of the technology company’s stock, valued at approximately $2,053,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FLEX. United Services Automobile Association acquired a new position in Flex in the fourth quarter worth approximately $982,000. Brandywine Global Investment Management LLC boosted its stake in shares of Flex by 219.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company’s stock worth $5,119,000 after acquiring an additional 91,571 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Flex in the 4th quarter worth $7,864,000. Raymond James Financial Inc. acquired a new stake in shares of Flex during the fourth quarter worth $32,293,000. Finally, American Century Companies Inc. lifted its holdings in shares of Flex by 19.7% during the fourth quarter. American Century Companies Inc. now owns 693,846 shares of the technology company’s stock valued at $26,637,000 after purchasing an additional 114,350 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Up 2.0 %

Shares of NASDAQ:FLEX opened at $31.54 on Friday. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $12.08 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The firm has a fifty day moving average of $34.99 and a two-hundred day moving average of $37.38.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) 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%. On average, equities analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. KeyCorp reduced their price target on shares of Flex from $46.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Flex has an average rating of “Buy” and an average price target of $43.67.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible 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 shares were 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 ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

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.