LSV Asset Management Has $230.85 Million Stake in Flex Ltd. (NASDAQ:FLEX)

LSV Asset Management lessened its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,978,477 shares of the technology company's stock after selling 209,698 shares during the period. LSV Asset Management owned 1.82% of Flex worth $230,848,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in Flex during the 1st quarter valued at approximately $246,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Flex by 7,157.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company's stock worth $2,290,000 after buying an additional 68,065 shares during the period. Sequoia Financial Advisors LLC raised its stake in Flex by 7.6% during the first quarter. Sequoia Financial Advisors LLC now owns 107,713 shares of the technology company's stock worth $3,563,000 after buying an additional 7,637 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in Flex by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company's stock valued at $229,000 after buying an additional 1,200 shares during the period. Finally, J.Safra Asset Management Corp boosted its position in Flex by 72.2% during the first quarter. J.Safra Asset Management Corp now owns 14,697 shares of the technology company's stock valued at $486,000 after acquiring an additional 6,163 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

FLEX stock opened at $49.52 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The business has a 50-day simple moving average of $47.95 and a two-hundred day simple moving average of $40.99. The company has a market capitalization of $18.59 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $53.97.

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

Insider Transactions at Flex

In other news, COO Kwang Hooi Tan sold 12,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $50.25, for a total value of $628,125.00. Following the transaction, the chief operating officer owned 263,636 shares in the company, valued at $13,247,709. The trade was a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 6,887 shares of the company's 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 $309,983.87. Following the completion of the transaction, the insider directly owned 303,718 shares of the company's stock, valued at approximately $13,670,347.18. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,061,348 shares of company stock worth $45,038,292. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLEX. Bank of America lifted their price objective on Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Barclays lifted their target price on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. KeyCorp lifted their price objective on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Flex in a research note on Friday, July 11th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Flex has a consensus rating of "Buy" and a consensus target price of $53.71.

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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