Centiva Capital LP Invests $391,000 in Flex Ltd. (NASDAQ:FLEX)

Centiva Capital LP purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,179 shares of the technology company’s stock, valued at approximately $391,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Evergreen Capital Management LLC boosted its position in shares of Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock valued at $925,000 after acquiring an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Flex by 2.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock valued at $488,000 after acquiring an additional 266 shares during the last quarter. Sage Rhino Capital LLC boosted 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 valued at $1,358,000 after acquiring an additional 374 shares during the last quarter. Arizona State Retirement System boosted 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 valued at $4,424,000 after acquiring an additional 403 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Flex by 11.2% during the 4th 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 last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in 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 assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. KeyCorp upped their target price on shares of Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group decreased their target price 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. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and an average price target of $45.33.

Insider Buying and Selling

In related news, CEO Revathi Advaithi sold 120,280 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,112,193 shares in the company, valued at approximately $42,363,431.37. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Scott Offer sold 87,093 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the sale, the executive vice president now owns 71,001 shares in the company, valued at $2,586,566.43. The trade was a 55.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Down 0.1%

Shares of FLEX opened at $38.48 on Monday. The stock has a market capitalization of $14.74 billion, a PE ratio of 15.52, a P/E/G ratio of 2.43 and a beta of 0.96. Flex Ltd. has a 1 year low of $25.11 and a 1 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 company’s 50-day simple moving average is $33.55 and its 200-day simple moving average is $37.51.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping 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 firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.