53,475 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Mirabella Financial Services LLP

Mirabella Financial Services LLP purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,475 shares of the technology company’s stock, valued at approximately $2,053,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Evergreen Capital Management LLC increased its stake in shares of Flex by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock worth $925,000 after purchasing an additional 246 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Flex by 2.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock valued at $488,000 after buying an additional 266 shares during the last quarter. Sage Rhino Capital LLC increased its position in Flex by 1.1% in the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock worth $1,358,000 after buying an additional 374 shares during the period. Arizona State Retirement System lifted its holdings 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 buying an additional 403 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Flex by 11.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company’s stock valued at $170,000 after acquiring an additional 447 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLEX. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. KeyCorp decreased their target price on Flex from $46.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays upped their price target on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $43.67.

Flex Price Performance

NASDAQ:FLEX opened at $31.54 on Friday. 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 company has a 50-day moving average of $34.99 and a 200-day moving average of $37.38. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $45.10. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.43 and a beta of 0.99.

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

Insider Activity at Flex

In related news, 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 in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex 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 transaction, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This 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 insiders.

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.