AQR Capital Management LLC Decreases Holdings in Flex Ltd. (NASDAQ:FLEX)

AQR Capital Management LLC lowered its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,435 shares of the technology company's stock after selling 24,000 shares during the quarter. AQR Capital Management LLC owned approximately 0.09% of Flex worth $12,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lido Advisors LLC purchased a new stake in shares of Flex in the 4th quarter valued at $277,000. Northern Trust Corp boosted its position in Flex by 89.1% during the fourth quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company's stock valued at $95,965,000 after buying an additional 1,177,923 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Flex by 889.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 244,142 shares of the technology company's stock valued at $9,375,000 after buying an additional 219,473 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in shares of Flex in the fourth quarter worth about $317,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Flex during the 4th quarter valued at about $35,000. 94.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP David Scott Offer sold 87,093 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total value of $3,172,797.99. Following the completion of the transaction, the executive vice president now owns 71,001 shares of the company's stock, valued at approximately $2,586,566.43. This represents a 55.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex 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 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 disclosure for this sale can be found here. Insiders sold a total of 201,900 shares of company stock valued at $8,179,677 over the last three months. Corporate insiders own 0.82% of the company's stock.

Flex Trading Down 0.4 %

NASDAQ:FLEX opened at $36.59 on Tuesday. The company has a 50-day moving average price of $33.45 and a 200-day moving average price of $37.41. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.43 and a beta of 0.96. 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 12 month low of $25.11 and a 12 month high of $45.10.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FLEX shares. KeyCorp decreased their price target on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Barclays upped their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. cut their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group lowered their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Flex has a consensus rating of "Buy" and an average price target of $43.67.

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.

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