Flex Ltd. (NASDAQ:FLEX) Shares Acquired by Marietta Investment Partners LLC

Marietta Investment Partners LLC increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 221,606 shares of the technology company’s stock after buying an additional 395 shares during the period. Flex accounts for approximately 1.9% of Marietta Investment Partners LLC’s portfolio, making the stock its 15th largest holding. Marietta Investment Partners LLC’s holdings in Flex were worth $8,507,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Flex in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new position in Flex in the 4th quarter valued at approximately $38,000. First Horizon Advisors Inc. boosted its position in 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 during the period. EverSource Wealth Advisors LLC boosted its position in Flex by 82.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $60,000 after buying an additional 704 shares during the period. Finally, UMB Bank n.a. purchased a new position in Flex in the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Up 0.9 %

FLEX stock opened at $36.40 on Friday. The company has a fifty day moving average price of $39.68 and a 200 day moving average price of $37.32. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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%. Sell-side analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 233,526 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of analyst reports. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Stifel Nicolaus initiated coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Barclays upped their price target on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.