New York Life Investment Management LLC grew its position in Flex Ltd. (NASDAQ:FLEX – Free Report) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,159 shares of the technology company’s stock after acquiring an additional 3,559 shares during the period. New York Life Investment Management LLC’s holdings in Flex were worth $1,528,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FLEX. Cornerstone Planning Group LLC acquired a new stake in Flex in the third quarter valued at approximately $30,000. CWM LLC grew its stake in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after acquiring an additional 773 shares during the period. Fifth Third Bancorp increased its holdings in Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Flex during the fourth quarter valued at $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Flex in the fourth quarter valued at about $77,000. 94.30% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CAO Daniel Wendler sold 1,860 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the transaction, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now directly owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Scott Offer sold 75,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the transaction, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock valued at $4,055,311 over the last quarter. 0.56% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on FLEX
Flex Stock Performance
Flex stock opened at $29.19 on Tuesday. Flex Ltd. has a 1-year low of $20.41 and a 1-year high of $30.93. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The firm has a 50 day simple moving average of $28.48 and a 200-day simple moving average of $26.88. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86.
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.
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