950,000 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by LMR Partners LLP

LMR Partners LLP purchased a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 950,000 shares of the technology company's stock, valued at approximately $36,470,000. LMR Partners LLP owned about 0.25% of Flex at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLEX. United Services Automobile Association purchased a new stake in Flex during the fourth quarter worth about $982,000. Brandywine Global Investment Management LLC boosted its holdings in Flex by 219.2% during the fourth quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock worth $5,119,000 after buying an additional 91,571 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in Flex during the fourth quarter worth about $7,864,000. Raymond James Financial Inc. purchased a new stake in Flex during the fourth quarter worth about $32,293,000. Finally, American Century Companies Inc. boosted its holdings in Flex by 19.7% during the fourth quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock worth $26,637,000 after buying an additional 114,350 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. KeyCorp upped their price target on shares of Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays upped their price objective on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.33.

Flex Trading Up 0.2%

Shares of Flex stock traded up $0.07 during trading hours on Friday, hitting $42.02. The company's stock had a trading volume of 2,712,274 shares, compared to its average volume of 3,948,520. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The business has a fifty day moving average of $34.29 and a 200 day moving average of $37.70. The company has a market capitalization of $16.10 billion, a PE ratio of 16.94, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. As a group, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 32,173 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $1,350,944.27. Following the sale, the insider now directly owns 270,483 shares in the company, valued at approximately $11,357,581.17. The trade was a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Wendler sold 4,502 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the sale, the chief accounting officer now owns 38,676 shares in the company, valued at $1,624,005.24. This trade represents a 10.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 489,255 shares of company stock worth $19,589,788 in the last ninety days. 0.82% of the stock is owned by insiders.

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.