Lido Advisors LLC Takes $277,000 Position in Flex Ltd. (NASDAQ:FLEX)

Lido Advisors LLC acquired a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,212 shares of the technology company's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FLEX. Norges Bank acquired a new position in shares of Flex in the fourth quarter valued at $229,484,000. Invesco Ltd. lifted its position in shares of Flex by 42.9% during the 4th quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company's stock worth $207,107,000 after buying an additional 1,620,812 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Flex by 210.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company's stock valued at $75,148,000 after purchasing an additional 1,327,298 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Flex by 13,790.0% in the 4th quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company's stock worth $47,528,000 after purchasing an additional 1,229,106 shares in the last quarter. Finally, Northern Trust Corp increased its position in Flex by 89.1% in the 4th quarter. Northern Trust Corp now owns 2,499,749 shares of the technology company's stock valued at $95,965,000 after acquiring an additional 1,177,923 shares during the period. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

FLEX stock traded down $0.04 during mid-day trading on Friday, reaching $38.48. 3,687,297 shares of the company traded hands, compared to its average volume of 3,905,976. 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 $14.74 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.43 and a beta of 0.96. 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 has a fifty day moving average price of $33.48 and a 200-day moving average price of $37.44.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm 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%. The company's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS. As a group, analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Transactions at Flex

In related news, 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 value of $2,162,500.00. Following the sale, the director now directly owns 202,850 shares of the company's stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Scott Offer sold 87,093 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total value of $3,172,797.99. Following the transaction, the executive vice president now directly owns 71,001 shares of the company's stock, valued at $2,586,566.43. The trade was a 55.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Barclays raised their price target 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 Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Flex has a consensus rating of "Buy" and a consensus price target of $45.33.

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.