Harvest Fund Management Co. Ltd Has $1.01 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

Harvest Fund Management Co. Ltd decreased its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 47.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,517 shares of the technology company's stock after selling 27,582 shares during the period. Harvest Fund Management Co. Ltd's holdings in Flex were worth $1,009,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FLEX. Sowell Financial Services LLC acquired a new position in shares of Flex in the 1st quarter worth approximately $246,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Flex by 7,157.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company's stock worth $2,290,000 after purchasing an additional 68,065 shares during the last quarter. Brandywine Global Investment Management LLC grew its stake 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 purchasing an additional 91,571 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Flex by 7.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 107,713 shares of the technology company's stock worth $3,563,000 after purchasing an additional 7,637 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Flex by 20.9% in the 1st quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company's stock worth $229,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Down 0.7%

NASDAQ FLEX traded down $0.35 during trading on Friday, reaching $49.52. The company's stock had a trading volume of 3,793,825 shares, compared to its average volume of 4,164,309. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $18.59 billion, a PE ratio of 21.72, a PEG ratio of 1.74 and a beta of 1.07. The business has a 50-day moving average price of $47.62 and a 200-day moving average price of $40.85. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $53.97.

Flex (NASDAQ:FLEX - Get Free Report) last posted its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion during the quarter, compared to analysts' expectations of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 1,245 shares of Flex stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $56,037.45. Following the completion of the sale, the chief accounting officer directly owned 47,619 shares in the company, valued at $2,143,331.19. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 6,887 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $309,983.87. Following the completion of the sale, the insider owned 303,718 shares of the company's stock, valued at $13,670,347.18. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,061,348 shares of company stock valued at $45,038,292. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the topic of several recent research reports. Barclays lifted their price objective on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. KeyCorp lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Bank of America lifted their target price on shares of Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Stifel Nicolaus lifted their target price on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flex has an average rating of "Buy" and an average target price of $53.71.

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.