Flex Ltd. (NASDAQ:FLEX) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 36.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,280,657 shares of the technology company's stock after purchasing an additional 603,809 shares during the period. Balyasny Asset Management L.P. owned approximately 0.60% of Flex worth $87,554,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in Flex during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex in the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Flex in the fourth quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after purchasing an additional 509 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of 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 acquiring an additional 478 shares during the period. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP David Scott Offer sold 87,093 shares of the firm's 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 sale, the executive vice president now directly owns 71,001 shares of the company's stock, valued at $2,586,566.43. This trade represents a 55.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value 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. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

Flex Stock Down 0.1 %

FLEX stock traded down $0.04 during midday trading on Friday, reaching $38.48. 3,687,290 shares of the company were exchanged, compared to its average volume of 3,905,968. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The company has a market cap of $14.74 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The stock's 50-day simple moving average is $33.48 and its 200 day simple moving average is $37.44.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays upped their price target on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target on the stock. 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 report on Thursday, April 10th. JPMorgan Chase & Co. cut their target price on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Flex currently has a consensus rating of "Buy" and a consensus price target of $45.33.

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.