Flex Ltd. (NASDAQ:FLEX) Shares Sold by Caption Management LLC

Caption Management LLC cut its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 67.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,800 shares of the technology company's stock after selling 41,250 shares during the quarter. Caption Management LLC's holdings in Flex were worth $760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Flex in the 4th quarter worth approximately $35,000. R Squared Ltd purchased a new stake in shares of Flex during the 4th quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Flex by 112.9% in the fourth 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 during the period. SBI Securities Co. Ltd. purchased a new position in shares of Flex during the 4th quarter worth $38,000. Finally, Huntington National Bank increased its position in shares of Flex by 46.7% during the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after acquiring an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Stock Performance

Shares of FLEX stock traded down $0.04 during mid-day trading on Friday, hitting $38.48. The stock had a trading volume of 3,687,297 shares, compared to its average volume of 3,910,715. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company's 50-day simple moving average is $33.55 and its 200-day simple moving average is $37.47. The firm has a market cap of $14.74 billion, a PE ratio of 15.52, a PEG ratio of 2.43 and a beta of 0.96.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly 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. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.22 billion. During the same period in the prior year, the company posted $0.57 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Buying and Selling at Flex

In other Flex news, CEO Revathi Advaithi sold 120,280 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $38.09, for a total transaction of $4,581,465.20. Following the completion of the transaction, the chief executive officer now owns 1,112,193 shares of the company's stock, valued at approximately $42,363,431.37. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,373 shares of company stock valued at $9,916,763. Insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

FLEX has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays upped their price objective on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Seven 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 $45.33.

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.