Mirova Lowers Position in Flex Ltd. (NASDAQ:FLEX)

Mirova cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,460 shares of the technology company's stock after selling 9,233 shares during the period. Mirova's holdings in Flex were worth $3,511,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Boston Partners lifted its stake in 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 during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew 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 worth $326,833,000 after acquiring an additional 916,085 shares during 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 purchasing an additional 361,049 shares in the last quarter. Finally, Norges Bank bought a new position in Flex in the fourth quarter valued at about $229,484,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Trading Up 2.2 %

Shares of Flex stock traded up $0.77 on Friday, hitting $35.43. 2,112,906 shares of the company's stock traded hands, compared to its average volume of 3,968,625. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The company has a fifty day moving average of $34.17 and a two-hundred day moving average of $37.32. 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 one year low of $25.11 and a one year high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last posted 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%. As a group, sell-side analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Flex

In related 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 value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lay Koon Tan sold 50,000 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now owns 202,850 shares of the company's stock, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

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.