Flex Ltd. (NASDAQ:FLEX) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,658 shares of the technology company’s stock after selling 18,172 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Flex were worth $2,636,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in shares of Flex by 1.3% during the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after purchasing an additional 344,773 shares during the last quarter. Boston Partners lifted its position in Flex by 2.2% during the fourth quarter. Boston Partners now owns 26,114,574 shares of the technology company’s stock worth $1,006,436,000 after buying an additional 569,916 shares during the period. Vanguard Group Inc. boosted its stake in Flex by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock worth $472,155,000 after buying an additional 817,215 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flex by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company’s stock valued at $246,006,000 after acquiring an additional 361,049 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Flex during the 4th quarter worth about $229,484,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of FLEX stock opened at $33.08 on Tuesday. The company’s fifty day simple moving average is $38.90 and its 200-day simple moving average is $37.65. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The company has a market cap of $12.67 billion, a PE ratio of 13.34, a P/E/G ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Buying and Selling at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This trade represents a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FLEX. Stifel Nicolaus started coverage on shares of Flex in a report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price for the company. Barclays upped their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $44.33.

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.