Flex Ltd. (NASDAQ:FLEX) Holdings Raised by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,114 shares of the technology company’s stock after purchasing an additional 31,840 shares during the quarter. Royal London Asset Management Ltd. owned 0.05% of Flex worth $6,827,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Troluce Capital Advisors LLC lifted its holdings in shares of Flex by 101.2% in the 3rd quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock worth $14,858,000 after purchasing an additional 48,097,992 shares during the last quarter. Norges Bank acquired a new position in shares of Flex during the fourth quarter valued at $165,000,000. Schonfeld Strategic Advisors LLC grew its position in shares of Flex by 211.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock worth $38,032,000 after acquiring an additional 956,676 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Flex by 63.9% in the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock worth $73,817,000 after acquiring an additional 944,928 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in Flex by 57.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock valued at $48,985,000 after purchasing an additional 665,076 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays boosted their price target on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Craig Hallum lowered shares of Flex from a “buy” rating to a “hold” rating and reduced their price target for the stock from $28.00 to $27.00 in a research note on Thursday, May 2nd. The Goldman Sachs Group boosted their target price on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Flex Price Performance

NASDAQ:FLEX traded down $0.76 during trading hours on Friday, reaching $31.26. 2,867,837 shares of the company’s stock were exchanged, compared to its average volume of 4,093,103. The company has a market capitalization of $12.56 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12. The business’s 50-day simple moving average is $30.02 and its two-hundred day simple moving average is $27.98. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Flex had a return on equity of 16.46% and a net margin of 3.58%. Sell-side analysts expect that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Paul Lundstrom sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $32.46, for a total value of $6,492,000.00. Following the completion of the sale, the chief financial officer now owns 294,027 shares in the company, valued at approximately $9,544,116.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Paul Lundstrom sold 200,000 shares of Flex stock in a transaction on Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $6,492,000.00. Following the transaction, the chief financial officer now owns 294,027 shares in the company, valued at $9,544,116.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kwang Hooi Tan sold 8,027 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the completion of the sale, the insider now directly owns 151,691 shares of the company’s stock, valued at $4,443,029.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 737,714 shares of company stock worth $23,056,255. Company insiders own 0.56% of the company’s stock.

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.