Flex Ltd. (NASDAQ:FLEX) Shares Sold by Capital World Investors

Capital World Investors cut its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,897,628 shares of the technology company's stock after selling 562,592 shares during the period. Capital World Investors owned about 1.02% of Flex worth $149,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLEX. R Squared Ltd purchased a new position in shares of Flex in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex in the fourth quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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 acquiring an additional 509 shares in the last quarter. Huntington National Bank increased its position in shares of Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after purchasing an additional 478 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock valued at $60,000 after purchasing an additional 704 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FLEX shares. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. KeyCorp cut their price objective on shares of Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price target on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $43.67.

Insider Buying and Selling at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares of the company's stock, valued at $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 owned by company insiders.

Flex Price Performance

Shares of Flex stock traded up $0.56 during trading on Friday, hitting $35.22. 4,126,233 shares of the company were exchanged, compared to its average volume of 3,981,392. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 2.43 and a beta of 0.99. The firm has a 50 day moving average price of $34.03 and a 200 day moving average price of $37.34. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. 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 earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.