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

ProShare Advisors LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,071 shares of the technology company's stock, valued at approximately $694,000.

Several other institutional investors also recently made changes to their positions in the stock. United Services Automobile Association purchased a new stake in shares of Flex in the 4th quarter worth about $982,000. Brandywine Global Investment Management LLC boosted its position in shares of Flex by 219.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock worth $5,119,000 after buying an additional 91,571 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in Flex in the 4th quarter valued at about $7,864,000. Raymond James Financial Inc. purchased a new position in Flex in the 4th quarter valued at about $32,293,000. Finally, American Century Companies Inc. lifted its holdings in Flex by 19.7% in the 4th quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock valued at $26,637,000 after purchasing an additional 114,350 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Trading Down 0.9%

Shares of NASDAQ FLEX traded down $0.40 on Wednesday, reaching $42.08. 2,537,991 shares of the company traded hands, compared to its average volume of 3,910,086. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The company has a 50 day moving average of $35.24 and a 200 day moving average of $37.93. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $15.71 billion, a PE ratio of 16.97, a P/E/G ratio of 2.43 and a beta of 0.96.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.57 EPS. On average, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Erin Mcsweeney sold 14,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $41.94, for a total transaction of $587,160.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Wendler sold 4,502 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the sale, the chief accounting officer now directly owns 38,676 shares of the company's stock, valued at approximately $1,624,005.24. This trade represents a 10.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 489,255 shares of company stock valued at $19,589,788. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KeyCorp upped their target price on shares of Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group reduced their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. JPMorgan Chase & Co. reduced 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. Finally, Barclays upped their price objective on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.