Park West Asset Management LLC Sells 726,314 Shares of Flex Ltd. (NASDAQ:FLEX)

Park West Asset Management LLC reduced its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 61.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,886 shares of the technology company's stock after selling 726,314 shares during the period. Flex accounts for 1.4% of Park West Asset Management LLC's holdings, making the stock its 27th biggest holding. Park West Asset Management LLC owned about 0.12% of Flex worth $17,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Flex in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Flex during the fourth quarter worth $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Flex during the fourth quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after purchasing an additional 509 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Flex by 46.7% in the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after buying an additional 478 shares in the last quarter. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares of the company's stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FLEX has been the topic of several research analyst reports. Barclays lifted their target price on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. The Goldman Sachs Group cut their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. KeyCorp cut their target price on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Stifel Nicolaus started coverage on Flex in a research report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their target price on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $43.67.

Flex Stock Down 0.4 %

FLEX opened at $35.09 on Tuesday. The business's 50-day simple moving average is $33.88 and its 200-day simple moving average is $37.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a one year low of $25.11 and a one year high of $45.10. The stock has a market capitalization of $13.44 billion, a P/E ratio of 14.15, a price-to-earnings-growth 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, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

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.

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