Stifel Financial Corp Has $18.39 Million Stake in Flex Ltd. (NASDAQ:FLEX)

Stifel Financial Corp lowered its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 478,920 shares of the technology company's stock after selling 27,191 shares during the quarter. Stifel Financial Corp owned about 0.13% of Flex worth $18,386,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased its stake in Flex by 2.2% in the fourth 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. grew its position in shares of Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock worth $472,155,000 after acquiring an additional 817,215 shares during the last quarter. Dimensional Fund Advisors LP raised 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 buying an additional 916,085 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flex by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock worth $246,006,000 after acquiring an additional 361,049 shares during the period. Finally, Norges Bank purchased a new position in Flex during the fourth quarter worth about $229,484,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FLEX. Barclays increased 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. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price target for the company. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group decreased their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $43.67.

Insider Transactions at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Flex Stock Up 2.9 %

NASDAQ FLEX traded up $1.00 on Thursday, hitting $35.34. 1,453,590 shares of the stock traded hands, compared to its average volume of 3,833,344. The stock has a 50-day moving average of $33.63 and a 200 day moving average of $37.34. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The company has a market capitalization of $13.54 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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, analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal 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.