Foundations Investment Advisors LLC Sells 1,415 Shares of Flex Ltd. (NASDAQ:FLEX)

Foundations Investment Advisors LLC trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,062 shares of the technology company’s stock after selling 1,415 shares during the period. Foundations Investment Advisors LLC’s holdings in Flex were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Flex by 1.3% during the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock valued at $898,389,000 after buying an additional 344,773 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after acquiring an additional 31,214 shares during the period. JPMorgan Chase & Co. increased its stake in Flex by 5.2% in the third 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 period. Geode Capital Management LLC lifted its position in shares of Flex by 619.3% during the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Flex by 19.7% during the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after purchasing an additional 603,208 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Craig Hallum increased their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. Finally, StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.67.

Flex Stock Down 1.0 %

Shares of NASDAQ FLEX opened at $41.65 on Friday. The stock has a market capitalization of $16.15 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 12-month low of $23.64 and a 12-month high of $45.10. The stock’s fifty day simple moving average is $39.96 and its two-hundred day simple moving average is $35.42.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. As a group, analysts expect that Flex Ltd. will post 2.16 EPS for the current fiscal year.

Insider Activity at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

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.