Tudor Investment Corp ET AL Sells 322,747 Shares of Flex Ltd. (NASDAQ:FLEX)

Tudor Investment Corp ET AL reduced its stake in Flex Ltd. (NASDAQ:FLEX) by 95.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,663 shares of the technology company’s stock after selling 322,747 shares during the period. Tudor Investment Corp ET AL’s holdings in Flex were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex in the 4th quarter valued at $35,000. R Squared Ltd bought a new stake in Flex during the fourth quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after acquiring an additional 509 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Flex in the 4th quarter worth approximately $38,000. Finally, Huntington National Bank grew its position in 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 acquiring an additional 478 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Stock Up 1.5 %

NASDAQ:FLEX opened at $38.51 on Friday. The stock’s fifty day simple moving average is $33.48 and its 200-day simple moving average is $37.44. The firm has a market capitalization of $14.75 billion, a P/E ratio of 15.53, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In other Flex news, EVP David Scott Offer sold 87,093 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 71,001 shares in the company, valued at approximately $2,586,566.43. This represents a 55.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on FLEX. The Goldman Sachs Group decreased their target price on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced 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. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target for the company. KeyCorp decreased their price objective on Flex from $46.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays boosted their target price on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $43.83.

Flex 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.