LSV Asset Management Sells 101,498 Shares of Flex Ltd. (NASDAQ:FLEX)

LSV Asset Management cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,188,175 shares of the technology company’s stock after selling 101,498 shares during the quarter. LSV Asset Management’s holdings in Flex were worth $275,954,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FLEX. R Squared Ltd bought a new position in Flex in the fourth quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Flex during the 4th quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Flex by 112.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares during the period. Huntington National Bank boosted its holdings in shares of Flex by 46.7% during the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock worth $58,000 after buying an additional 478 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after buying an additional 704 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FLEX shares. KeyCorp reduced their target price on shares of Flex from $46.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday. Stifel Nicolaus assumed coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. 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. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Flex has an average rating of “Buy” and a consensus price target of $43.33.

Flex Stock Up 13.6 %

NASDAQ:FLEX opened at $31.58 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market capitalization of $12.10 billion, a PE ratio of 12.73, a P/E/G ratio of 2.43 and a beta of 0.99. The firm’s 50-day moving average price is $36.67 and its 200-day moving average price is $37.48. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. On average, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex 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 transaction, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

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.