Flex Ltd. (NASDAQ:FLEX) Stock Position Raised by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC boosted its position in Flex Ltd. (NASDAQ:FLEX) by 219.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 133,349 shares of the technology company’s stock after purchasing an additional 91,571 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Flex were worth $5,119,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FLEX. Pictet Asset Management Holding SA lifted its holdings in Flex by 9.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 57,220 shares of the technology company’s stock valued at $2,197,000 after acquiring an additional 4,832 shares during the last quarter. Norges Bank purchased a new stake in shares of Flex in the fourth quarter worth approximately $229,484,000. Blair William & Co. IL boosted its stake in shares of Flex by 4.5% during the 4th quarter. Blair William & Co. IL now owns 13,568 shares of the technology company’s stock valued at $521,000 after buying an additional 589 shares during the period. JPMorgan Chase & Co. raised its position in Flex by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company’s stock valued at $246,006,000 after acquiring an additional 361,049 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Flex by 18.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,337,150 shares of the technology company’s stock valued at $89,723,000 after purchasing an additional 367,179 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FLEX. Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus assumed coverage on Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $44.33.

Flex Stock Up 0.8 %

Flex stock opened at $33.36 on Wednesday. The company’s 50-day moving average price is $38.68 and its two-hundred day moving average price is $37.68. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.78 billion, a P/E ratio of 13.45, a P/E/G ratio of 2.43 and a beta of 1.07. Flex Ltd. has a twelve month low of $25.27 and a twelve 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%. As a group, analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

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.