American Century Companies Inc. Raises Stock Position in Flex Ltd. (NASDAQ:FLEX)

American Century Companies Inc. lifted its stake in Flex Ltd. (NASDAQ:FLEX) by 19.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 693,846 shares of the technology company’s stock after purchasing an additional 114,350 shares during the period. American Century Companies Inc. owned 0.18% of Flex worth $26,637,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FLEX. Mutual of America Capital Management LLC purchased a new stake in Flex in the fourth quarter worth about $7,864,000. Raymond James Financial Inc. purchased a new position in shares of Flex in the 4th quarter valued at approximately $32,293,000. State of Alaska Department of Revenue bought a new stake in shares of Flex during the fourth quarter valued at approximately $1,697,000. One Wealth Advisors LLC purchased a new stake in Flex in the fourth quarter worth $368,000. Finally, JPMorgan Chase & Co. raised its holdings in Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Activity

In other news, insider Michael P. Hartung sold 64,807 shares of the business’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 transaction of $2,844,379.23. Following the completion of the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Down 3.7 %

Shares of Flex stock opened at $33.18 on Friday. The company has a 50-day simple moving average of $39.09 and a two-hundred day simple moving average of $37.58. The stock has a market capitalization of $12.71 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. 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 (NASDAQ:FLEX) last announced its quarterly earnings data 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 net margin of 3.95% and a return on equity of 17.93%. On average, analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLEX. Barclays upped their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Flex presently has an average rating of “Buy” and a consensus price target of $44.33.

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.