Janus Henderson Group PLC Trims Holdings in Flex Ltd. (NASDAQ:FLEX)

Janus Henderson Group PLC reduced its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,485,276 shares of the technology company's stock after selling 388,868 shares during the quarter. Flex accounts for 0.5% of Janus Henderson Group PLC's investment portfolio, making the stock its 28th largest position. Janus Henderson Group PLC owned 6.91% of Flex worth $1,016,814,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Boston Partners boosted its position in shares of Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after buying an additional 569,916 shares during the period. Vanguard Group Inc. boosted 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 acquiring an additional 817,215 shares during the period. Dimensional Fund Advisors LP grew its position in Flex by 12.1% in 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 acquiring an additional 916,085 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Flex by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock worth $246,006,000 after purchasing an additional 361,049 shares during the period. Finally, Norges Bank acquired a new stake in shares of Flex during the fourth quarter worth about $229,484,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Transactions at Flex

In other Flex news, CEO Revathi Advaithi sold 120,280 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $38.09, for a total value of $4,581,465.20. Following the completion of the sale, the chief executive officer now owns 1,112,193 shares in the company, valued at approximately $42,363,431.37. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Scott Offer sold 87,093 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the transaction, the executive vice president now owns 71,001 shares in the company, valued at approximately $2,586,566.43. This trade represents a 55.09 % 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 worth $9,916,763. Corporate insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of several recent research reports. KeyCorp upped their target price on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays increased their price target on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Stifel Nicolaus assumed 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. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Flex has an average rating of "Buy" and an average target price of $45.33.

Flex Price Performance

FLEX stock opened at $38.48 on Friday. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.43 and a beta of 0.96. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $33.55 and a 200 day moving average price of $37.49.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.22 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.

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