Todd Asset Management LLC Sells 12,589 Shares of Flex Ltd. (NASDAQ:FLEX)

Todd Asset Management LLC lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,718 shares of the technology company’s stock after selling 12,589 shares during the quarter. Todd Asset Management LLC’s holdings in Flex were worth $5,057,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Flex in the third quarter worth approximately $29,000. Huntington National Bank raised 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 purchasing an additional 479 shares during the period. R Squared Ltd bought a new position in shares of Flex in the 4th quarter worth $35,000. First Horizon Advisors Inc. grew its position in Flex by 23.6% in the 3rd 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. Finally, UMB Bank n.a. bought a new stake in Flex during the 4th quarter valued at $64,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent research reports. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Barclays raised their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Craig Hallum raised their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $44.33.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 233,526 shares in the company, valued at $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 is available through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Flex Price Performance

Flex stock opened at $38.58 on Wednesday. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The company’s 50 day moving average price is $41.05 and its two-hundred day moving average price is $36.92. The stock has a market cap of $14.78 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.43 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

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 return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Flex 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.