Mutual of America Capital Management LLC Has $6.52 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Mutual of America Capital Management LLC lowered its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,179 shares of the technology company's stock after selling 7,666 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Flex worth $6,523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Services Automobile Association acquired a new stake in shares of Flex in the fourth quarter worth about $982,000. Sowell Financial Services LLC acquired a new position in shares of Flex during the 1st quarter worth about $246,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Flex by 7,157.2% during 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 lifted its position in shares of Flex by 219.2% during 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. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Flex by 7.6% during 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. Institutional investors and hedge funds own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FLEX shares. JPMorgan Chase & Co. cut their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Barclays boosted their price objective on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group reissued a "buy" rating on shares of Flex in a research report on Friday, July 11th. Bank of America boosted their price target on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, KeyCorp boosted their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $49.43.

Flex Stock Performance

FLEX traded up $0.29 on Wednesday, hitting $51.85. 3,178,277 shares of the stock traded hands, compared to its average volume of 4,048,831. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $52.62. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $19.38 billion, a PE ratio of 24.46, a P/E/G ratio of 1.91 and a beta of 1.07. The business has a fifty day moving average price of $45.46 and a two-hundred day moving average price of $40.02.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data 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. Flex had a return on equity of 19.01% and a net margin of 3.25%. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the company posted $0.57 EPS. The company's revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 6,887 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $309,983.87. Following the sale, the insider directly owned 303,718 shares in the company, valued at approximately $13,670,347.18. This represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Daniel Wendler sold 1,245 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $56,037.45. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 1,135,941 shares of company stock worth $47,582,965. Insiders own 0.57% of the company's stock.

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.