Globeflex Capital L P Has $183,000 Position in Flex Ltd. (NASDAQ:FLEX)

Globeflex Capital L P lowered its position in Flex Ltd. (NASDAQ:FLEX) by 74.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,775 shares of the technology company’s stock after selling 14,021 shares during the period. Globeflex Capital L P’s holdings in Flex were worth $183,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in Flex by 1.3% in the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after buying an additional 344,773 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after buying an additional 31,214 shares during the last quarter. JPMorgan Chase & Co. increased 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 buying an additional 296,505 shares during the last quarter. Geode Capital Management LLC increased its holdings in Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after buying an additional 3,844,935 shares during the last quarter. Finally, State Street Corp boosted its position in Flex by 19.7% during the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock worth $122,503,000 after purchasing an additional 603,208 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Up 2.6 %

FLEX opened at $34.49 on Friday. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 2.43 and a beta of 1.07. The business has a 50 day moving average of $40.19 and a 200-day moving average of $37.24.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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%. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction on 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. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FLEX. Barclays upped their target price 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 began coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.