Brandywine Global Investment Management LLC Reduces Holdings in Flex Ltd. $FLEX

Brandywine Global Investment Management LLC decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 0.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 390,663 shares of the technology company’s stock after selling 3,432 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.11% of Flex worth $23,604,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Flex during the fourth quarter worth about $28,000. Frazier Financial Advisors LLC acquired a new stake in shares of Flex during the fourth quarter worth about $28,000. CENTRAL TRUST Co lifted its holdings in shares of Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Flex during the fourth quarter worth about $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flex during the third quarter worth about $52,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 0.7%

Shares of NASDAQ:FLEX opened at $150.83 on Tuesday. Flex Ltd. has a 12-month low of $42.83 and a 12-month high of $166.86. The company has a market capitalization of $55.26 billion, a PE ratio of 64.73, a PEG ratio of 0.80 and a beta of 1.63. The business has a 50 day moving average of $109.29 and a two-hundred day moving average of $79.53. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion during the quarter. As a group, analysts forecast that Flex Ltd. will post 4.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLEX. Stifel Nicolaus lifted their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. The Goldman Sachs Group lifted their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Insider Buying and Selling

In other Flex news, CEO Revathi Advaithi sold 114,090 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.37, for a total value of $16,242,993.30. Following the completion of the transaction, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at approximately $98,096,062.14. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles K. Stevens III sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $138.14, for a total value of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares of the company’s stock, valued at $6,275,147.64. The trade was a 24.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 345,012 shares of company stock valued at $48,508,103 in the last three months. 0.57% of the stock is currently owned by company insiders.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.