75,783 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by Massar Capital Management LP

Massar Capital Management LP bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,783 shares of the technology company's stock, valued at approximately $2,909,000. Flex comprises approximately 3.3% of Massar Capital Management LP's portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also bought and sold shares of the stock. Evergreen Capital Management LLC increased its stake in Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock worth $925,000 after buying an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock worth $488,000 after acquiring an additional 266 shares during the period. Sage Rhino Capital LLC grew its position in Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after acquiring an additional 374 shares during the period. Arizona State Retirement System grew its position in Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock worth $4,424,000 after acquiring an additional 403 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of Flex by 11.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock worth $170,000 after buying an additional 447 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Transactions at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction on 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 sale, the director now owns 202,850 shares of the company's stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were 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 of the company's stock, valued at approximately $10,249,456.14. The trade was a 21.72 % 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.

Flex Trading Up 1.6 %

NASDAQ:FLEX traded up $0.56 during mid-day trading on Friday, reaching $35.22. The company's stock had a trading volume of 4,126,233 shares, compared to its average volume of 3,985,596. The company's fifty day simple moving average is $34.03 and its two-hundred day simple moving average is $37.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The stock has a market cap of $13.49 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.43 and a beta of 0.99.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced 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. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Barclays increased their price target on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective for the company. Finally, The Goldman Sachs Group dropped their price target on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $43.67.

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.