Nuveen Asset Management LLC Sells 358,361 Shares of Flex Ltd. (NASDAQ:FLEX)

Nuveen Asset Management LLC decreased its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,759,084 shares of the technology company's stock after selling 358,361 shares during the period. Nuveen Asset Management LLC owned 1.24% of Flex worth $182,701,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Services Automobile Association purchased a new stake in shares of Flex during the 4th quarter worth approximately $982,000. Brandywine Global Investment Management LLC increased its stake in shares of Flex by 219.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 133,349 shares of the technology company's stock worth $5,119,000 after purchasing an additional 91,571 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Flex during the 4th quarter worth approximately $7,864,000. Raymond James Financial Inc. purchased a new stake in shares of Flex during the 4th quarter worth approximately $32,293,000. Finally, American Century Companies Inc. increased its stake in shares of Flex by 19.7% during the 4th quarter. American Century Companies Inc. now owns 693,846 shares of the technology company's stock worth $26,637,000 after purchasing an additional 114,350 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 87,093 shares of Flex stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the sale, the executive vice president now directly owns 71,001 shares of the company's stock, valued at approximately $2,586,566.43. The trade was a 55.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Revathi Advaithi sold 120,280 shares of Flex stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $38.09, for a total transaction of $4,581,465.20. Following the sale, the chief executive officer now directly owns 1,112,193 shares of the company's stock, valued at $42,363,431.37. This represents a 9.76% 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 valued at $19,589,788 in the last three months. Company insiders own 0.82% of the company's stock.

Flex Stock Performance

Flex stock traded up $0.07 during mid-day trading on Friday, reaching $42.02. The company's stock had a trading volume of 2,712,274 shares, compared to its average volume of 3,956,319. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10. The company 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 quick ratio of 0.83 and a current ratio of 1.41. The firm's fifty day moving average price is $34.29 and its two-hundred day moving average price is $37.74.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 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 firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the firm earned $0.57 EPS. The business's quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FLEX shares. StockNews.com lowered shares of Flex from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Barclays raised their price target on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. KeyCorp lifted their price objective on shares of Flex from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Flex presently has an average rating of "Moderate Buy" and an average price target of $45.33.

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.