Nuveen Asset Management LLC Has $182.70 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Nuveen Asset Management LLC decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,759,084 shares of the technology company’s stock after selling 358,361 shares during the quarter. Nuveen Asset Management LLC owned 1.24% of Flex worth $182,701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Boston Partners grew its position in Flex by 2.2% during the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after acquiring an additional 569,916 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock valued at $472,155,000 after purchasing an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company’s stock worth $326,833,000 after purchasing an additional 916,085 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flex by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company’s stock valued at $246,006,000 after buying an additional 361,049 shares during the period. Finally, Norges Bank bought a new position in Flex in the 4th quarter valued at approximately $229,484,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. KeyCorp raised their price objective on Flex from $35.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.33.

Flex Stock Performance

NASDAQ:FLEX opened at $41.95 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 twelve month low of $25.11 and a twelve month high of $45.10. The company has a fifty day moving average of $34.12 and a 200-day moving average of $37.65. The firm has a market capitalization of $16.07 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.43 and a beta of 0.96.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Buying and Selling

In other news, CAO Daniel Wendler sold 4,502 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of the sale, the chief accounting officer now directly owns 38,676 shares of the company’s stock, valued at $1,624,005.24. This represents a 10.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael P. Hartung sold 32,173 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $1,350,944.27. Following the completion of the transaction, the insider now owns 270,483 shares in the company, valued at $11,357,581.17. This represents a 10.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 475,255 shares of company stock valued at $19,002,628. 0.82% of the stock is owned by company 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.