Nomura Holdings Inc. Has $5.34 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Nomura Holdings Inc. reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,184 shares of the technology company’s stock after selling 120,230 shares during the quarter. Nomura Holdings Inc.’s holdings in Flex were worth $5,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Evergreen Capital Management LLC increased its holdings in shares of Flex by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock valued at $925,000 after purchasing an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Flex by 2.1% in 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 in the last quarter. Sage Rhino Capital LLC lifted its stake in Flex by 1.1% in 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 in the last quarter. Arizona State Retirement System boosted its stake 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 last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Flex by 11.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company’s stock valued at $170,000 after buying an additional 447 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Performance

Flex stock opened at $41.95 on Friday. The stock has a market cap of $16.07 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The firm’s fifty day moving average price is $34.12 and its 200-day moving average price is $37.65. 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 (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. Flex’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. On average, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLEX. Barclays raised their price target on Flex from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. StockNews.com cut Flex from a “buy” rating to a “hold” rating in a report on Monday. KeyCorp raised their price objective on Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, The Goldman Sachs Group reduced their price target 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.33.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 87,093 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.43, for a total value of $3,172,797.99. Following the sale, the executive vice president now directly owns 71,001 shares in the company, valued at approximately $2,586,566.43. The trade was a 55.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Wendler sold 4,502 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of the sale, the chief accounting officer now owns 38,676 shares in the company, valued at $1,624,005.24. This represents a 10.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 475,255 shares of company stock worth $19,002,628 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

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.