Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Boston Partners

Boston Partners raised its stake in Flex Ltd. (NASDAQ:FLEX) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,114,574 shares of the technology company’s stock after acquiring an additional 569,916 shares during the quarter. Flex comprises approximately 1.2% of Boston Partners’ investment portfolio, making the stock its 8th biggest holding. Boston Partners owned approximately 6.82% of Flex worth $1,006,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLEX. First Horizon Advisors Inc. grew its position in shares of Flex by 23.6% during the 3rd 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 during the period. Sage Rhino Capital LLC grew its position in shares of Flex by 1.1% during 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 grew its position in shares of Flex by 0.4% during the 4th 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 period. Raymond James Trust N.A. grew its position in shares of Flex by 2.0% during the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after buying an additional 413 shares during the period. Finally, Huntington National Bank grew its position in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the subject of several analyst reports. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Barclays lifted their price objective 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. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus target price of $44.33.

Insider Buying and Selling at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were 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 $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the business’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 completion of the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. This represents 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 Stock Performance

Shares of FLEX opened at $35.23 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The firm’s 50 day moving average price is $40.09 and its two-hundred day moving average price is $37.29. The firm has a market cap of $13.50 billion, a P/E ratio of 14.21, a PEG ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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%. On average, analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal 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.