Flex Ltd. (NASDAQ:FLEX) is Blue Door Asset Management LLC's 4th Largest Position

Blue Door Asset Management LLC lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 22.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545,950 shares of the technology company's stock after selling 157,000 shares during the quarter. Flex comprises about 7.8% of Blue Door Asset Management LLC's holdings, making the stock its 4th biggest holding. Blue Door Asset Management LLC owned about 0.14% of Flex worth $20,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evergreen Capital Management LLC boosted its stake in shares of Flex by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after buying an additional 246 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Flex by 2.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after purchasing an additional 266 shares during the last quarter. Sage Rhino Capital LLC grew its stake in shares of Flex by 1.1% during the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after purchasing an additional 374 shares in the last quarter. Arizona State Retirement System increased its holdings in Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock valued at $4,424,000 after buying an additional 403 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Flex by 11.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock valued at $170,000 after buying an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Stock Performance

NASDAQ:FLEX traded down $0.45 during trading hours on Monday, reaching $34.77. 1,819,842 shares of the company's stock were exchanged, compared to its average volume of 3,979,017. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 2.43 and a beta of 0.99. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The company has a 50-day moving average of $34.03 and a 200 day moving average of $37.38.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity at Flex

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

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective 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. KeyCorp lowered their target price on shares of Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group reduced their price target 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. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $43.67.

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.