Flex Ltd. (NASDAQ:FLEX) is Delphi Management Inc. MA’s 7th Largest Position

Delphi Management Inc. MA cut its stake in Flex Ltd. (NASDAQ:FLEX) by 9.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,231 shares of the technology company’s stock after selling 4,154 shares during the quarter. Flex makes up approximately 1.6% of Delphi Management Inc. MA’s portfolio, making the stock its 7th biggest holding. Delphi Management Inc. MA’s holdings in Flex were worth $1,621,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after buying an additional 344,773 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after buying an additional 31,214 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after purchasing an additional 3,844,935 shares during the last quarter. Finally, State Street Corp grew its position in shares of Flex by 19.7% in the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on 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 $8,773,262.50. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Flex Stock Up 2.1 %

Shares of NASDAQ FLEX opened at $35.23 on Tuesday. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The firm’s 50 day moving average price is $40.09 and its 200 day moving average price is $37.29. The firm has a market cap of $13.50 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FLEX shares. Barclays increased 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 started coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $44.33.

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.