Marietta Investment Partners LLC Increases Holdings in Flex Ltd. (NASDAQ:FLEX)

Marietta Investment Partners LLC lifted its position in Flex Ltd. (NASDAQ:FLEX) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 221,606 shares of the technology company’s stock after purchasing an additional 395 shares during the period. Flex accounts for about 1.9% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 15th biggest position. Marietta Investment Partners LLC owned approximately 0.06% of Flex worth $8,507,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares in the last quarter. Sage Rhino Capital LLC increased its position in shares of Flex by 1.1% during the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock worth $1,358,000 after purchasing an additional 374 shares in the last quarter. Arizona State Retirement System increased its position in shares of Flex by 0.4% during the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock worth $4,424,000 after purchasing an additional 403 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Flex by 2.0% during the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after purchasing an additional 413 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Flex by 6.4% during the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after purchasing an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the topic of a number of recent analyst reports. Barclays upped 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 began coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $44.33.

Flex Price Performance

NASDAQ:FLEX opened at $36.40 on Friday. Flex Ltd. has a one year low of $25.27 and a one year 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. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.07. The firm’s fifty day moving average is $39.68 and its two-hundred day moving average is $37.32.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Insider Buying and Selling

In related news, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex 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.