Flex Ltd. (NASDAQ:FLEX) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,342 shares of the technology company's stock after selling 9,725 shares during the quarter. Tower Research Capital LLC TRC's holdings in Flex were worth $858,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares in the company, valued at approximately $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. Company insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLEX. JPMorgan Chase & Co. reduced their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. KeyCorp reduced their price objective on shares of Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus assumed coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective on the stock. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex has a consensus rating of "Buy" and an average target price of $43.67.

Flex Trading Up 3.5 %

FLEX stock traded up $1.20 during trading on Thursday, hitting $35.54. The company had a trading volume of 893,696 shares, compared to its average volume of 3,972,333. The firm has a 50-day moving average price of $33.63 and a 200-day moving average price of $37.34. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

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.