Royce & Associates LP Has $10.85 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Royce & Associates LP decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,657 shares of the technology company’s stock after selling 24,551 shares during the quarter. Royce & Associates LP owned approximately 0.07% of Flex worth $10,851,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Natixis Advisors LLC grew its position in shares of Flex by 64.3% in the 4th quarter. Natixis Advisors LLC now owns 58,239 shares of the technology company’s stock valued at $2,236,000 after acquiring an additional 22,797 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in Flex during the fourth quarter worth about $1,911,000. First Eagle Investment Management LLC grew its holdings in Flex by 10.1% during the fourth quarter. First Eagle Investment Management LLC now owns 17,404 shares of the technology company’s stock worth $668,000 after purchasing an additional 1,600 shares during the period. Commonwealth Equity Services LLC raised its stake in Flex by 12.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,313 shares of the technology company’s stock valued at $1,432,000 after buying an additional 4,230 shares during the period. Finally, PGGM Investments lifted its position in shares of Flex by 0.6% in the fourth quarter. PGGM Investments now owns 242,418 shares of the technology company’s stock valued at $9,306,000 after buying an additional 1,385 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Trading Up 2.1 %

FLEX stock opened at $35.23 on Tuesday. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The company has a market capitalization of $13.50 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07. The company’s 50-day simple moving average is $40.09 and its 200 day simple moving average is $37.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total value of $2,162,500.00. Following the sale, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research analyst reports. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Barclays raised their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.33.

About Flex

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.