Flex Ltd. (NASDAQ:FLEX) Shares Sold by Amundi

Amundi lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 594,993 shares of the technology company’s stock after selling 56,974 shares during the period. Amundi’s holdings in Flex were worth $24,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new position in Flex in the 4th quarter valued at approximately $7,864,000. State of Alaska Department of Revenue purchased a new position in Flex in the 4th quarter valued at approximately $1,697,000. One Wealth Advisors LLC purchased a new stake in shares of Flex during the 4th quarter worth $368,000. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 296,505 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Flex during the 4th quarter worth $585,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Flex Price Performance

Shares of FLEX opened at $33.61 on Friday. Flex Ltd. has a 1-year low of $25.27 and a 1-year high of $45.10. The stock has a market cap of $12.88 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. 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 firm has a fifty day moving average price of $40.30 and a 200 day moving average price of $37.19.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

FLEX has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Flex in a research report on Tuesday, February 11th. They set 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 report on Thursday, January 30th. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $44.33.

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.