Earnest Partners LLC reduced its stake in Flex Ltd (NASDAQ:FLEX) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,034,667 shares of the technology company’s stock after selling 214,541 shares during the period. Earnest Partners LLC owned approximately 0.39% of Flex worth $36,604,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of FLEX. Russell Investments Group Ltd. raised its holdings in Flex by 317.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,189,046 shares of the technology company’s stock valued at $19,702,000 after buying an additional 904,163 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in Flex by 9.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 4,996,536 shares of the technology company’s stock worth $82,792,000 after purchasing an additional 421,171 shares during the period. Zeke Capital Advisors LLC increased its stake in Flex by 320.5% during the third quarter. Zeke Capital Advisors LLC now owns 50,517 shares of the technology company’s stock worth $837,000 after purchasing an additional 38,503 shares during the period. Woodmont Investment Counsel LLC purchased a new stake in Flex during the third quarter worth about $244,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Flex by 5.6% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 152,663 shares of the technology company’s stock worth $2,529,000 after purchasing an additional 8,100 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.
In other news, Director Willy C. Shih sold 13,597 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.91, for a total transaction of $243,522.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company’s stock.
Flex Ltd (NASDAQ FLEX) opened at $18.80 on Wednesday. Flex Ltd has a 52-week low of $14.70 and a 52-week high of $19.71. The company has a market capitalization of $9,983.43, a PE ratio of 18.99, a PEG ratio of 1.04 and a beta of 0.78. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 1.22.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate 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 the consensus estimate of $6.50 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. research analysts predict that Flex Ltd will post 1.08 EPS for the current year.
Flex Company Profile
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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