Dimensional Fund Advisors LP Grows Position in Flex Ltd. (NASDAQ:FLEX)

Dimensional Fund Advisors LP boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,513,078 shares of the technology company’s stock after purchasing an additional 916,085 shares during the quarter. Dimensional Fund Advisors LP owned about 2.22% of Flex worth $326,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Flex during the 4th quarter valued at $229,484,000. Invesco Ltd. lifted its position in Flex by 42.9% in the fourth quarter. Invesco Ltd. now owns 5,394,821 shares of the technology company’s stock valued at $207,107,000 after purchasing an additional 1,620,812 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Flex by 210.6% in 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 period. Neuberger Berman Group LLC grew its holdings in Flex by 13,790.0% in the 4th quarter. Neuberger Berman Group LLC now owns 1,238,019 shares of the technology company’s stock worth $47,528,000 after acquiring an additional 1,229,106 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Flex in the fourth quarter valued at about $33,363,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KeyCorp reduced their price objective on shares of Flex from $46.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus began coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Barclays boosted their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $43.67.

Flex Trading Up 2.0 %

Shares of NASDAQ FLEX opened at $31.54 on Monday. The company has a market cap 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 Ltd. has a fifty-two week low of $25.11 and a fifty-two week 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 business’s 50 day moving average price is $34.99 and its 200-day moving average price is $37.41.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the 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 sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred on 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.