Graham Capital Management L.P. Has $384,000 Stock Position in Flex Ltd. (NASDAQ:FLEX)

Graham Capital Management L.P. decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the technology company’s stock after selling 1,334 shares during the quarter. Graham Capital Management L.P.’s holdings in Flex were worth $384,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FLEX. Barclays PLC boosted its holdings in shares of Flex by 42.6% during the 3rd quarter. Barclays PLC now owns 774,856 shares of the technology company’s stock worth $25,902,000 after buying an additional 231,572 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Flex by 5.2% during the 3rd 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 period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Flex during the 4th quarter worth $321,000. Park Avenue Securities LLC boosted its holdings in shares of Flex by 12.2% during the 4th quarter. Park Avenue Securities LLC now owns 24,484 shares of the technology company’s stock worth $940,000 after buying an additional 2,654 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of Flex by 18.4% during the 4th quarter. Gateway Investment Advisers LLC now owns 131,860 shares of the technology company’s stock worth $5,062,000 after buying an additional 20,461 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FLEX. The Goldman Sachs Group decreased their price objective on shares of Flex from $53.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, April 10th. 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 for the company. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their price target on shares of Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Barclays increased their price target on shares of Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Flex Trading Up 0.2%

Shares of FLEX stock opened at $42.02 on Friday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.43 and a beta of 0.96. 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 fifty day moving average of $34.29 and a 200-day moving average of $37.70.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the company posted $0.57 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Revathi Advaithi sold 120,280 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $38.09, for a total transaction of $4,581,465.20. Following the completion of the sale, the chief executive officer now owns 1,112,193 shares in the company, valued at $42,363,431.37. This trade represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Daniel Wendler sold 4,502 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the sale, the chief accounting officer now owns 38,676 shares of the company’s stock, valued at $1,624,005.24. This trade represents a 10.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 489,255 shares of company stock worth $19,589,788. 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.