Stephens Inc. AR Has $472,000 Holdings in Flex Ltd. (NASDAQ:FLEX)

Stephens Inc. AR decreased its holdings in Flex Ltd. (NASDAQ:FLEX) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,302 shares of the technology company’s stock after selling 1,804 shares during the quarter. Stephens Inc. AR’s holdings in Flex were worth $472,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in shares of Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Flex by 2.0% in the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after buying an additional 413 shares in the last quarter. Huntington National Bank raised its stake in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Flex by 6.4% in the 4th quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock valued at $400,000 after buying an additional 630 shares in the last quarter. Finally, Wahed Invest LLC raised its stake in shares of Flex by 7.4% in the 3rd quarter. Wahed Invest LLC now owns 9,637 shares of the technology company’s stock valued at $322,000 after buying an additional 667 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Up 0.3 %

Shares of NASDAQ:FLEX opened at $42.51 on Friday. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The company’s 50-day moving average price is $40.64 and its two-hundred day moving average price is $36.26. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm has a market cap of $16.29 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.58 and a beta of 1.10.

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 net margin of 3.95% and a return on equity of 17.93%. As a group, research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of recent research reports. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday. Barclays increased their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. KeyCorp started coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus started coverage on shares of Flex in a research report on Tuesday. They set a “buy” rating and a $52.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $44.33.

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of the 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 sale, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction that occurred 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 owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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.