Tudor Investment Corp ET AL Decreases Position in Flex Ltd. (NASDAQ:FLEX)

Tudor Investment Corp ET AL cut its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 95.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,663 shares of the technology company's stock after selling 322,747 shares during the quarter. Tudor Investment Corp ET AL's holdings in Flex were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of FLEX. Boston Partners raised its stake in Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock valued at $1,006,436,000 after buying an additional 569,916 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Flex by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock valued at $472,155,000 after purchasing an additional 817,215 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Flex by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,513,078 shares of the technology company's stock valued at $326,833,000 after acquiring an additional 916,085 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 during the period. Finally, Norges Bank bought a new stake in Flex in the 4th quarter valued at $229,484,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Revathi Advaithi sold 120,280 shares of the stock in a transaction on Wednesday, May 7th. The shares were 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 approximately $42,363,431.37. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David Scott Offer sold 87,093 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the transaction, the executive vice president now owns 71,001 shares of the company's stock, valued at approximately $2,586,566.43. This trade represents a 55.09% decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays upped their price target on shares of Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased 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. StockNews.com cut shares of Flex from a "buy" rating to a "hold" rating in a research report on Monday. KeyCorp increased their price objective on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. 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, the company has a consensus rating of "Moderate Buy" and an average price target of $45.33.

Flex Stock Up 2.5%

NASDAQ:FLEX traded up $1.03 during trading hours on Tuesday, reaching $41.91. The company's stock had a trading volume of 3,986,972 shares, compared to its average volume of 3,940,849. The stock has a 50 day moving average price of $33.65 and a two-hundred day moving average price of $37.55. The company has a market capitalization of $16.06 billion, a P/E ratio of 16.90, a price-to-earnings-growth 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. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share (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 for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts predict that Flex Ltd. will post 2.33 EPS 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.