Daiwa SB Investments Ltd. lowered its stake in shares of Flex Ltd (NASDAQ:FLEX) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,630 shares of the technology company’s stock after selling 2,780 shares during the quarter. Daiwa SB Investments Ltd.’s holdings in Flex were worth $803,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in FLEX. Russell Investments Group Ltd. grew its holdings in Flex by 317.4% during the third quarter. Russell Investments Group Ltd. now owns 1,189,046 shares of the technology company’s stock worth $19,702,000 after buying an additional 904,163 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Flex by 9.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 4,996,536 shares of the technology company’s stock worth $82,792,000 after buying an additional 421,171 shares in the last quarter. Berson & Corrado Investment Advisors LLC bought a new stake in Flex during the fourth quarter worth $3,714,000. South Street Advisors LLC bought a new stake in Flex during the second quarter worth $3,277,000. Finally, Korea Investment CORP grew its holdings in Flex by 145.7% during the third quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock worth $4,263,000 after buying an additional 152,600 shares in the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.
In other Flex news, Director William D. Watkins sold 9,000 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $17.73, for a total value of $159,570.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Scott Offer sold 45,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $17.71, for a total value of $796,950.00. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.
Flex Ltd (FLEX) opened at $19.14 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.23 and a quick ratio of 0.70. Flex Ltd has a 1 year low of $14.22 and a 1 year high of $19.28. The firm has a market capitalization of $9,914.13, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.03 and a beta of 0.81.
Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Flex had a return on equity of 22.71% and a net margin of 2.25%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. equities analysts expect that Flex Ltd will post 1.09 EPS for the current year.
Several equities research analysts recently issued reports on the company. BidaskClub downgraded Flex from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. UBS Group reiterated a “buy” rating and set a $21.50 price target on shares of Flex in a report on Tuesday, December 19th. Argus upped their price target on Flex from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Citigroup upped their price target on Flex from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Stifel Nicolaus upped their price target on Flex from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $19.75.
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd (NASDAQ:FLEX).
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.