Flex Ltd. (NASDAQ:FLEX) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,123,277 shares of the technology company's stock after selling 860,231 shares during the quarter. Voya Investment Management LLC owned approximately 1.08% of Flex worth $158,293,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Flex in the 4th quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after acquiring an additional 509 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Flex during the fourth quarter worth approximately $38,000. Huntington National Bank raised its stake in Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after purchasing an additional 478 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company's stock valued at $60,000 after purchasing an additional 704 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the company'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 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 company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FLEX shares. The Goldman Sachs Group decreased their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Barclays upped their price target on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. KeyCorp reduced their price objective on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their target price on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Flex presently has an average rating of "Buy" and a consensus price target of $43.67.

Flex Trading Up 0.1 %

NASDAQ:FLEX traded up $0.03 on Tuesday, reaching $35.12. The company's stock had a trading volume of 743,204 shares, compared to its average volume of 3,974,479. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10. The stock has a 50 day moving average price of $33.88 and a 200 day moving average price of $37.38. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts anticipate 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.