Dimensional Fund Advisors LP Grows Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Dimensional Fund Advisors LP increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 12.1% during the 4th quarter, Holdings Channel reports. The fund owned 8,513,078 shares of the technology company’s stock after purchasing an additional 916,085 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Flex were worth $326,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLEX. Evergreen Capital Management LLC lifted its position in shares of Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock valued at $925,000 after buying an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Flex by 2.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock valued at $488,000 after purchasing an additional 266 shares in the last quarter. Sage Rhino Capital LLC grew its position in shares of Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock valued at $1,358,000 after purchasing an additional 374 shares during the period. Arizona State Retirement System increased its stake in shares of Flex by 0.4% during the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock worth $4,424,000 after purchasing an additional 403 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Flex by 11.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company’s stock worth $170,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of research analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. KeyCorp decreased their price objective on Flex from $46.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group dropped their target price on shares of Flex from $53.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Stifel Nicolaus initiated coverage on shares of Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Barclays raised their target price on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $43.67.

Flex Stock Performance

NASDAQ:FLEX opened at $31.54 on Monday. The company’s 50-day moving average is $34.99 and its two-hundred day moving average is $37.41. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data 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 return on equity of 17.93% and a net margin of 3.95%. Analysts forecast that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity at Flex

In related news, 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 transaction, the director now 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 SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the business’s 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 completion of the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Flex Company 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.