Vanguard Group Inc. Has $472.16 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Vanguard Group Inc. boosted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,298,896 shares of the technology company’s stock after acquiring an additional 817,215 shares during the period. Vanguard Group Inc. owned 3.21% of Flex worth $472,155,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Flex by 210.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,957,477 shares of the technology company’s stock worth $75,148,000 after buying an additional 1,327,298 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Flex in the fourth quarter worth $33,363,000. Raymond James Financial Inc. bought a new position in Flex during the fourth quarter worth $32,293,000. Finally, State Street Corp boosted its holdings in Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Flex Price Performance

Shares of FLEX stock opened at $33.36 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The stock’s fifty day simple moving average is $38.68 and its 200 day simple moving average is $37.68. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 2.43 and a beta of 1.07.

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

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value 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 filing with the SEC, which is available through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 202,850 shares in the company, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Flex Company Profile

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.