JPMorgan Chase & Co. Buys 361,049 Shares of Flex Ltd. (NASDAQ:FLEX)

JPMorgan Chase & Co. increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,408,070 shares of the technology company’s stock after acquiring an additional 361,049 shares during the period. JPMorgan Chase & Co. owned about 1.67% of Flex worth $246,006,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after purchasing an additional 344,773 shares during the last quarter. Boston Partners increased its position in Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after buying an additional 569,916 shares during the last quarter. Vanguard Group Inc. raised its stake in Flex by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock valued at $472,155,000 after buying an additional 817,215 shares during the period. Geode Capital Management LLC lifted 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 buying an additional 3,844,935 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Flex by 19.7% during the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock worth $122,503,000 after acquiring an additional 603,208 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Down 0.3 %

FLEX stock opened at $33.08 on Tuesday. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. 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 company’s 50-day simple moving average is $38.90 and its 200 day simple moving average is $37.65. The company has a market capitalization of $12.67 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate 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.

Insider Buying and Selling at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FLEX shares. Barclays lifted their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average 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.