Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Prudential PLC

Prudential PLC raised its stake in Flex Ltd. (NASDAQ:FLEX) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,622 shares of the technology company’s stock after purchasing an additional 1,108 shares during the quarter. Prudential PLC’s holdings in Flex were worth $792,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in FLEX. R Squared Ltd acquired a new position in Flex in the fourth quarter valued at $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Flex in the 4th quarter valued at about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Flex by 112.9% during the 4th 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. Huntington National Bank increased its position in Flex by 46.7% during the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock worth $58,000 after purchasing an additional 478 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Flex by 82.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after buying an additional 704 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays increased 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. Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $44.33.

Flex Stock Up 5.2 %

Shares of Flex stock opened at $28.07 on Tuesday. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The company has a market capitalization of $10.75 billion, a PE ratio of 11.32, a P/E/G ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The business has a 50-day moving average of $37.61 and a 200-day moving average of $37.64.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Flex 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.