United Services Automobile Association Makes New $982,000 Investment in Flex Ltd. (NASDAQ:FLEX)

United Services Automobile Association acquired a new stake in Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 25,573 shares of the technology company’s stock, valued at approximately $982,000.

Several other large investors have also added to or reduced their stakes in FLEX. Janus Henderson Group PLC boosted its holdings in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after buying an additional 344,773 shares in the last quarter. Boston Partners boosted its stake 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 acquiring an additional 569,916 shares in the last quarter. Vanguard Group Inc. increased its stake in Flex by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company’s stock valued at $472,155,000 after purchasing an additional 817,215 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after purchasing an additional 296,505 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 2.8 %

NASDAQ FLEX opened at $37.42 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $14.34 billion, a P/E ratio of 15.09, a PEG ratio of 2.43 and a beta of 1.07. The business has a fifty day simple moving average of $39.64 and a 200 day simple moving average of $37.46. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating 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%. On average, analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com raised 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 report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Barclays boosted their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $44.33.

Insider Transactions at Flex

In other Flex news, 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 completion of the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total value of $2,844,379.23. Following the sale, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.