Tocqueville Asset Management L.P. Has $39.99 Million Position in Flex Ltd. (NASDAQ:FLEX)

Tocqueville Asset Management L.P. cut its position in Flex Ltd. (NASDAQ:FLEX) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 1,041,781 shares of the technology company’s stock after selling 7,451 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Flex were worth $39,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLEX. Huntington National Bank lifted its holdings in 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 acquiring an additional 479 shares in the last quarter. R Squared Ltd bought a new position in shares of Flex during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Flex in the 4th quarter valued at approximately $38,000. First Horizon Advisors Inc. increased its stake in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after buying an additional 704 shares during the period. 94.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Up 2.1 %

Flex stock opened at $35.23 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a fifty day simple moving average of $40.09 and a 200 day simple moving average of $37.29. The company 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.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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%. Research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. Barclays increased their target price on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Flex has a consensus rating of “Buy” and an average target price of $44.33.

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.