Yousif Capital Management LLC Buys 126,021 Shares of Flex Ltd. (NASDAQ:FLEX)

Yousif Capital Management LLC lifted its position in Flex Ltd. (NASDAQ:FLEX) by 1,081.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 137,676 shares of the technology company’s stock after acquiring an additional 126,021 shares during the quarter. Yousif Capital Management LLC’s holdings in Flex were worth $5,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. bought a new stake in Flex in the 3rd quarter worth about $29,000. Huntington National Bank grew its holdings in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Flex during the fourth quarter valued at approximately $35,000. Kathleen S. Wright Associates Inc. bought a new stake in Flex during the third quarter worth $39,000. Finally, First Horizon Advisors Inc. grew its stake 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 purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Up 2.5 %

NASDAQ:FLEX opened at $44.25 on Friday. The company has a market cap of $17.16 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.43 and a beta of 1.10. Flex Ltd. has a 1 year low of $24.11 and a 1 year high of $45.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The stock’s fifty day moving average price is $40.07 and its two-hundred day moving average price is $35.70.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. As a group, analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FLEX shares. StockNews.com cut Flex from a “buy” rating to a “hold” rating in a research note on Saturday, February 1st. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Craig Hallum increased their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.67.

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.