Alyeska Investment Group L.P. Grows Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Alyeska Investment Group L.P. boosted its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,599,783 shares of the technology company's stock after buying an additional 61,636 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.42% of Flex worth $61,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of FLEX. Boston Partners lifted its position in Flex by 2.2% in the fourth 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 during the last quarter. Vanguard Group Inc. raised its holdings in Flex by 7.1% during the 4th 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 boosted its position in Flex by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after buying an additional 916,085 shares during the period. JPMorgan Chase & Co. increased its position in shares of Flex by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock valued at $246,006,000 after acquiring an additional 361,049 shares during the period. Finally, Norges Bank bought a new position in shares of Flex during the fourth quarter valued at about $229,484,000. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group decreased their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Barclays boosted their price objective on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday. KeyCorp raised their target price on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $45.33.

Flex Stock Up 0.3 %

Shares of Flex stock traded up $0.13 during trading on Friday, hitting $38.65. The company's stock had a trading volume of 1,897,410 shares, compared to its average volume of 3,926,233. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The company has a market capitalization of $14.81 billion, a PE ratio of 15.58, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a fifty day simple moving average of $33.48 and a two-hundred day simple moving average of $37.44. 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 announced its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. Equities research analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In other Flex news, Director Lay Koon Tan sold 50,000 shares of Flex 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 completion of the transaction, the director now directly owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Scott Offer sold 87,093 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the sale, the executive vice president now owns 71,001 shares in the company, valued at approximately $2,586,566.43. The trade was a 55.09 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

About Flex

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.