Arrowstreet Capital Limited Partnership Lowers Position in Flex Ltd. (NASDAQ:FLEX)

Arrowstreet Capital Limited Partnership lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 85.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,244 shares of the technology company’s stock after selling 647,777 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Flex were worth $4,117,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in Flex during the 4th quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in Flex during the 4th quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Flex by 112.9% during 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 in the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $60,000 after purchasing an additional 704 shares in the last quarter. Finally, UMB Bank n.a. purchased a new position in Flex in the fourth quarter valued at $64,000. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

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 the business’s stock in a transaction dated 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 transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Down 1.0 %

Shares of NASDAQ:FLEX opened at $27.80 on Wednesday. The firm’s 50-day moving average is $37.08 and its two-hundred day moving average is $37.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $45.10. The firm has a market capitalization of $10.65 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FLEX. KeyCorp cut their price objective on Flex from $46.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday. 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 objective for the company. Barclays raised their target price on 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 raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $43.33.

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.