Flex Ltd. (NASDAQ:FLEX) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,097 shares of the technology company’s stock after acquiring an additional 16,170 shares during the period. American Century Companies Inc.’s holdings in Flex were worth $4,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tudor Investment Corp Et Al boosted its position in Flex by 81.1% during the third quarter. Tudor Investment Corp Et Al now owns 579,940 shares of the technology company’s stock worth $15,647,000 after purchasing an additional 259,702 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Flex during the third quarter worth approximately $268,000. Baker Avenue Asset Management LP boosted its position in Flex by 54.1% during the third quarter. Baker Avenue Asset Management LP now owns 157,488 shares of the technology company’s stock worth $4,249,000 after purchasing an additional 55,322 shares in the last quarter. Legal & General Group Plc boosted its position in Flex by 9.3% during the third quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock worth $61,836,000 after purchasing an additional 195,447 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Flex by 3.2% in the third quarter. Earnest Partners LLC now owns 4,425,891 shares of the technology company’s stock valued at $119,411,000 after acquiring an additional 138,979 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at $830,009.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total value of $2,064,000.00. Following the completion of the sale, the executive vice president now directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares of the company’s stock, valued at $830,009.70. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock valued at $4,055,311 over the last quarter. 0.56% of the stock is owned by insiders.

Flex Stock Performance

Shares of Flex stock opened at $28.63 on Thursday. Flex Ltd. has a one year low of $19.44 and a one year high of $30.93. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.77 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59. The business’s 50 day moving average price is $26.88 and its 200 day moving average price is $26.43.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.73 billion. Flex had a return on equity of 16.24% and a net margin of 2.56%. On average, research analysts predict that Flex Ltd. will post 2.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FLEX shares. StockNews.com started coverage on Flex in a research report on Wednesday, March 6th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised their target price on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th.

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.