Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Flex Ltd. (NASDAQ:FLEX) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,829,503 shares of the technology company’s stock after purchasing an additional 248,233 shares during the quarter. Vanguard Group Inc. owned 1.38% of Flex worth $177,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners lifted its position in Flex by 7.5% during the fourth quarter. Boston Partners now owns 8,967,046 shares of the technology company’s stock valued at $272,891,000 after buying an additional 624,414 shares in the last quarter. LSV Asset Management boosted its position in Flex by 0.7% during the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock worth $214,660,000 after purchasing an additional 51,068 shares during the period. Norges Bank acquired a new stake in Flex in the 4th quarter valued at $165,000,000. Sound Shore Management Inc. CT raised its position in Flex by 3.4% in the fourth quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock valued at $117,942,000 after purchasing an additional 128,766 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Flex by 63.9% during the fourth quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock worth $73,817,000 after purchasing an additional 944,928 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other news, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the completion of the sale, the chief accounting officer now directly owns 32,510 shares in the company, valued at approximately $1,017,563. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Daniel Wendler sold 1,275 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $31.30, for a total transaction of $39,907.50. Following the completion of the sale, the chief accounting officer now owns 32,510 shares of the company’s stock, valued at approximately $1,017,563. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total transaction of $235,110.83. Following the completion of the transaction, the insider now directly owns 151,691 shares in the company, valued at approximately $4,443,029.39. The disclosure for this sale can be found here. Insiders have sold 804,542 shares of company stock worth $25,147,972 over the last quarter. 0.82% of the stock is owned by corporate insiders.

Flex Stock Up 2.1 %

Shares of NASDAQ:FLEX opened at $30.10 on Thursday. The firm has a market cap of $12.00 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.12. The company has a fifty day simple moving average of $30.59 and a 200 day simple moving average of $28.39. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Flex had a net margin of 3.58% and a return on equity of 16.46%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.10 billion. On average, equities research analysts anticipate that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FLEX. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and dropped their target price for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays upped their target price on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

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.