Vertex One Asset Management Inc. lowered its holdings in shares of Flex Ltd (NASDAQ:FLEX) by 11.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 288,700 shares of the technology company’s stock after selling 37,000 shares during the period. Vertex One Asset Management Inc. owned about 0.05% of Flex worth $5,194,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of FLEX. American Century Companies Inc. raised its holdings in shares of Flex by 85.5% during the 4th quarter. American Century Companies Inc. now owns 3,724,973 shares of the technology company’s stock worth $67,012,000 after buying an additional 1,716,866 shares in the last quarter. Iridian Asset Management LLC CT raised its holdings in shares of Flex by 12.7% during the 4th quarter. Iridian Asset Management LLC CT now owns 14,406,912 shares of the technology company’s stock worth $259,180,000 after buying an additional 1,628,669 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in shares of Flex during the 4th quarter worth $20,383,000. Brenner West Capital Advisors LP acquired a new position in shares of Flex during the 4th quarter worth $19,762,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Flex by 5,418.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 921,573 shares of the technology company’s stock worth $16,578,000 after buying an additional 904,873 shares in the last quarter. 97.61% of the stock is owned by institutional investors.
FLEX has been the subject of a number of research analyst reports. BidaskClub cut Flex from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. UBS Group reaffirmed a “buy” rating and issued a $21.50 target price on shares of Flex in a report on Tuesday, December 19th. Needham & Company LLC upped their target price on Flex from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Bank of America upped their target price on Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Stifel Nicolaus upped their target price on Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Flex has an average rating of “Buy” and a consensus price target of $20.56.
Flex (NASDAQ:FLEX) last issued its earnings results on Thursday, January 25th. The technology company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. Flex had a return on equity of 20.44% and a net margin of 2.15%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. equities analysts forecast that Flex Ltd will post 1.08 earnings per share for the current fiscal year.
In other news, Director Willy C. Shih sold 13,597 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.91, for a total value of $243,522.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.
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Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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