Centiva Capital LP Invests $391,000 in Flex Ltd. (NASDAQ:FLEX)

Centiva Capital LP acquired a new position in Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,179 shares of the technology company's stock, valued at approximately $391,000.

A number of other large investors have also recently made changes to their positions in FLEX. Boston Partners boosted its stake in shares of Flex by 2.2% in the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after acquiring an additional 569,916 shares during the period. Vanguard Group Inc. grew its holdings in Flex by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock valued at $472,155,000 after buying an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after buying an additional 916,085 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Flex by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock worth $246,006,000 after buying an additional 361,049 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Flex during the fourth quarter worth $229,484,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Trading Down 0.3%

FLEX stock traded down $0.11 during trading on Thursday, hitting $41.95. The company had a trading volume of 3,044,357 shares, compared to its average volume of 3,944,587. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10. The company has a 50 day simple moving average of $33.94 and a 200-day simple moving average of $37.61. The firm has a market capitalization of $16.07 billion, a P/E ratio of 16.92, a PEG 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 issued its earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion for 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 company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. As a group, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FLEX shares. JPMorgan Chase & Co. decreased their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays lifted their price objective on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. The Goldman Sachs Group lowered their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.33.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 4,502 shares of Flex stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total value of $189,038.98. Following the transaction, the chief accounting officer now owns 38,676 shares in the company, valued at $1,624,005.24. The trade was a 10.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Scott Offer sold 87,093 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction 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 $2,586,566.43. This represents a 55.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 475,255 shares of company stock worth $19,002,628. 0.82% of the stock is currently owned by company insiders.

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.