Nomura Holdings Inc. Sells 120,230 Shares of Flex Ltd. (NASDAQ:FLEX)

Nomura Holdings Inc. lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 46.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 139,184 shares of the technology company's stock after selling 120,230 shares during the quarter. Nomura Holdings Inc.'s holdings in Flex were worth $5,343,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. United Services Automobile Association bought a new stake in shares of Flex in the fourth quarter valued at about $982,000. Brandywine Global Investment Management LLC lifted its holdings in shares of Flex by 219.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock valued at $5,119,000 after purchasing an additional 91,571 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Flex in the fourth quarter valued at about $7,864,000. Raymond James Financial Inc. bought a new stake in shares of Flex in the fourth quarter valued at about $32,293,000. Finally, American Century Companies Inc. lifted its holdings in shares of Flex by 19.7% in the fourth quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock valued at $26,637,000 after purchasing an additional 114,350 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Performance

NASDAQ FLEX traded up $0.07 during trading on Friday, reaching $42.02. 2,712,274 shares of the company's stock were exchanged, compared to its average volume of 3,956,319. The business has a 50 day moving average price of $34.29 and a 200-day moving average price of $37.74. The stock has a market capitalization of $16.10 billion, a P/E ratio of 16.94, a PEG 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. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. KeyCorp boosted their price target on Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. The Goldman Sachs Group lowered their target price on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays lifted their target price on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, StockNews.com downgraded Flex from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Flex currently has a consensus rating of "Moderate Buy" and an average price target of $45.33.

Insider Transactions at Flex

In related 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 directly 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 SEC, which is accessible through this link. Also, CAO Daniel Wendler sold 4,502 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of the sale, the chief accounting officer now owns 38,676 shares of the company's stock, valued at approximately $1,624,005.24. This trade represents a 10.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 489,255 shares of company stock worth $19,589,788 over the last quarter. Company insiders own 0.82% of the company's stock.

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.