950,000 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by LMR Partners LLP

LMR Partners LLP acquired a new stake in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 950,000 shares of the technology company’s stock, valued at approximately $36,470,000. LMR Partners LLP owned approximately 0.25% of Flex at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Flex in the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Flex in the fourth quarter worth $35,000. SBI Securities Co. Ltd. acquired a new position in Flex in the fourth quarter valued at about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after purchasing an additional 509 shares during the period. Finally, Huntington National Bank grew its stake in Flex by 46.7% during the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock worth $58,000 after buying an additional 478 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other Flex news, EVP David Scott Offer sold 87,093 shares of Flex stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the transaction, the executive vice president now directly owns 71,001 shares of the company’s stock, valued at approximately $2,586,566.43. The trade was a 55.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Revathi Advaithi sold 120,280 shares of Flex stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $38.09, for a total value of $4,581,465.20. Following the completion of the transaction, the chief executive officer now directly owns 1,112,193 shares in the company, valued at approximately $42,363,431.37. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FLEX shares. Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price for the company. The Goldman Sachs Group cut their target price on Flex from $53.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. KeyCorp lifted their price target on Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Barclays raised their price objective on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $45.33.

Flex Stock Performance

NASDAQ FLEX opened at $38.48 on Monday. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The stock has a market cap of $14.74 billion, a PE ratio of 15.52, a PEG ratio of 2.43 and a beta of 0.96. 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’s fifty day moving average price is $33.55 and its two-hundred day moving average price is $37.51.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.