MQS Management LLC Invests $365,000 in Flex Ltd. (NASDAQ:FLEX)

MQS Management LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,022 shares of the technology company's stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Boston Partners increased its holdings in Flex by 2.2% during the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after purchasing an additional 569,916 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock valued at $472,155,000 after buying an additional 817,215 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Flex by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock worth $326,833,000 after buying an additional 916,085 shares in the last quarter. JPMorgan Chase & Co. raised its position in Flex by 6.0% in the 4th quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock valued at $246,006,000 after buying an additional 361,049 shares during the last quarter. Finally, Norges Bank bought a new position in Flex during the 4th quarter valued at $229,484,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America increased their target price on shares of Flex from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. decreased their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen downgraded Flex from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Barclays upped their target price on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a report on Friday, July 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Flex presently has a consensus rating of "Buy" and a consensus target price of $49.43.

Flex Stock Performance

Shares of NASDAQ:FLEX traded up $0.29 during mid-day trading on Wednesday, reaching $51.85. The company had a trading volume of 3,178,277 shares, compared to its average volume of 4,048,831. The company's 50-day moving average price is $45.46 and its 200-day moving average price is $40.02. Flex Ltd. has a one year low of $25.11 and a one year high of $52.62. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.91 and a beta of 1.07. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 0.50.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 19.01% and a net margin of 3.25%. The firm had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 87,093 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total value of $3,172,797.99. Following the sale, the executive vice president owned 71,001 shares of the company's stock, valued at $2,586,566.43. The trade was a 55.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Revathi Advaithi sold 181,028 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.91, for a total transaction of $7,767,911.48. Following the completion of the transaction, the chief executive officer directly owned 1,463,695 shares of the company's stock, valued at approximately $62,807,152.45. This trade represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,135,941 shares of company stock worth $47,582,965 over the last ninety days. Company 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.