18,071 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by ProShare Advisors LLC

ProShare Advisors LLC acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,071 shares of the technology company's stock, valued at approximately $694,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Flex in the 4th quarter worth $229,484,000. Invesco Ltd. raised its stake in Flex by 42.9% during the 4th quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company's stock valued at $207,107,000 after purchasing an additional 1,620,812 shares during the period. Bank of New York Mellon Corp grew its stake in Flex by 210.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company's stock valued at $75,148,000 after acquiring an additional 1,327,298 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Flex by 13,790.0% in the fourth quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company's stock worth $47,528,000 after purchasing an additional 1,229,106 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Flex by 89.1% in the fourth quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company's stock valued at $95,965,000 after purchasing an additional 1,177,923 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays lifted their target price on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price 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 cut their target price on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. KeyCorp boosted their target price on Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $45.33.

Insider Transactions at Flex

In other Flex news, CEO Revathi Advaithi sold 164,700 shares of Flex stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $6,915,753.00. Following the sale, the chief executive officer now owns 1,319,823 shares of the company's stock, valued at $55,419,367.77. The trade was a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erin Mcsweeney sold 14,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $41.94, for a total transaction of $587,160.00. Following the sale, the director now directly owns 22,299 shares of the company's stock, valued at approximately $935,220.06. This represents a 38.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 489,255 shares of company stock valued at $19,589,788 over the last 90 days. Corporate insiders own 0.82% of the company's stock.

Flex Price Performance

Shares of Flex stock traded up $0.16 on Friday, hitting $42.10. The company's stock had a trading volume of 656,946 shares, compared to its average volume of 3,895,125. The company has a market capitalization of $15.72 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The firm has a fifty day moving average price of $35.45 and a 200-day moving average price of $37.98. 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.

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

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.