Temasek Holdings Private Ltd Sells 54,163 Shares of Flex Ltd. (NASDAQ:FLEX)

Temasek Holdings Private Ltd reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 54.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,509 shares of the technology company's stock after selling 54,163 shares during the quarter. Temasek Holdings Private Ltd's holdings in Flex were worth $1,747,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Flex during the 4th quarter worth approximately $35,000. R Squared Ltd bought a new position in shares of Flex during the 4th quarter worth approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Flex during the 4th quarter worth approximately $38,000. Finally, Huntington National Bank grew its stake in shares of Flex by 46.7% in the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after buying an additional 478 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Trading Down 2.6%

Shares of Flex stock traded down $1.09 on Wednesday, reaching $41.18. 3,769,186 shares of the company's stock were exchanged, compared to its average volume of 3,954,149. The company has a market capitalization of $15.78 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The firm's 50-day moving average is $34.75 and its two-hundred day moving average is $37.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. Flex had a return on equity of 17.93% and a net margin of 3.95%. Flex's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. Sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a report on Tuesday. The Goldman Sachs Group cut their price target on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. KeyCorp raised their price target on Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Stifel Nicolaus initiated coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $45.33.

Insider Transactions at Flex

In other Flex news, Director Erin Mcsweeney sold 14,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $41.94, for a total value of $587,160.00. Following the completion of the sale, the director now owns 22,299 shares in the company, valued at approximately $935,220.06. The trade was a 38.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Wendler sold 4,502 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the transaction, the chief accounting officer now owns 38,676 shares of the company's stock, valued at approximately $1,624,005.24. This represents a 10.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 489,255 shares of company stock worth $19,589,788. 0.82% of the stock is owned by company insiders.

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.