Flex Ltd. (NASDAQ:FLEX) Shares Sold by Clayton Partners LLC

Clayton Partners LLC lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 171,115 shares of the technology company’s stock after selling 1,446 shares during the quarter. Flex comprises approximately 4.5% of Clayton Partners LLC’s holdings, making the stock its 5th largest position. Clayton Partners LLC’s holdings in Flex were worth $6,569,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after acquiring an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after acquiring an additional 31,214 shares during the period. JPMorgan Chase & Co. boosted its position in Flex by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after acquiring an additional 296,505 shares during the period. Geode Capital Management LLC boosted its position in 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 acquiring an additional 3,844,935 shares during the period. Finally, State Street Corp boosted its position in Flex by 19.7% during the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock worth $122,503,000 after acquiring an additional 603,208 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated 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 approximately $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 insiders.

Flex Stock Up 2.6 %

Shares of Flex stock opened at $34.49 on Friday. The stock’s fifty day moving average is $40.19 and its 200-day moving average is $37.24. The firm has a market capitalization of $13.21 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. 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 Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10.

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 return on equity of 17.93% and a net margin of 3.95%. Equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current 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.