Css LLC Il Sells 9,451 Shares of Flex Ltd. (NASDAQ:FLEX)

Css LLC Il reduced its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 53.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,349 shares of the technology company's stock after selling 9,451 shares during the period. Css LLC Il's holdings in Flex were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Flex during the 4th quarter valued at $229,484,000. Invesco Ltd. raised its holdings in Flex by 42.9% in the 4th quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company's stock valued at $207,107,000 after buying an additional 1,620,812 shares during the last quarter. Bank of New York Mellon Corp raised its position in Flex by 210.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company's stock worth $75,148,000 after purchasing an additional 1,327,298 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Flex by 13,790.0% during the 4th quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company's stock worth $47,528,000 after buying an additional 1,229,106 shares during the period. Finally, Northern Trust Corp grew its position in shares of Flex by 89.1% in the 4th quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company's stock valued at $95,965,000 after buying an additional 1,177,923 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Performance

NASDAQ:FLEX opened at $41.44 on Friday. 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 Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The company has a fifty day moving average of $34.87 and a 200-day moving average of $37.88. The firm has a market capitalization of $15.88 billion, a P/E ratio of 16.71, 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 results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm 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 business's revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 32,173 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $1,350,944.27. Following the completion of the sale, the insider now owns 270,483 shares in the company, valued at approximately $11,357,581.17. The trade was a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erin Mcsweeney sold 14,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 22,299 shares in the company, valued at $935,220.06. This trade represents a 38.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 489,255 shares of company stock valued at $19,589,788. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price objective on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. KeyCorp upped their price objective on shares of Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Barclays upped their price target on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus 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.

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