Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Brown Advisory Inc.

Brown Advisory Inc. boosted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 15.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,677 shares of the technology company's stock after acquiring an additional 29,911 shares during the period. Brown Advisory Inc. owned 0.06% of Flex worth $7,465,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FLEX. Norges Bank acquired a new position in Flex in the fourth quarter valued at approximately $229,484,000. Invesco Ltd. lifted its stake in Flex by 42.9% during the fourth quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company's stock worth $207,107,000 after purchasing an additional 1,620,812 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Flex by 13,790.0% during 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 in the last quarter. Northern Trust Corp lifted its stake in Flex by 89.1% during the fourth quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company's stock worth $95,965,000 after purchasing an additional 1,177,923 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Flex during the fourth quarter worth $36,470,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

NASDAQ:FLEX opened at $52.19 on Friday. The firm has a market capitalization of $19.50 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.93 and a beta of 1.07. The business's fifty day moving average price is $44.58 and its 200 day moving average price is $39.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.79. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $52.54.

Flex (NASDAQ:FLEX - Get Free Report) last posted 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 analysts' expectations of $6.22 billion. Flex had a return on equity of 19.01% and a net margin of 3.25%. The business's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In related news, COO Kwang Hooi Tan sold 8,509 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $382,990.09. Following the completion of the sale, the chief operating officer directly owned 276,136 shares of the company's stock, valued at $12,428,881.36. This represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 6,887 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $309,983.87. Following the completion of the sale, the insider directly owned 303,718 shares of the company's stock, valued at approximately $13,670,347.18. This trade represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,135,941 shares of company stock worth $47,582,965. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on FLEX shares. JPMorgan Chase & Co. decreased their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group reduced their price objective on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Barclays increased their price objective on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Bank of America increased their price objective on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday. Finally, KeyCorp increased their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $49.43.

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.

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