Flex Ltd. (NASDAQ:FLEX) Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,404 shares of the technology company’s stock after acquiring an additional 1,600 shares during the period. First Eagle Investment Management LLC’s holdings in Flex were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLEX. Commonwealth Equity Services LLC boosted its stake in shares of Flex by 12.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,313 shares of the technology company’s stock valued at $1,432,000 after purchasing an additional 4,230 shares during the period. PGGM Investments boosted its position in Flex by 0.6% in the 4th quarter. PGGM Investments now owns 242,418 shares of the technology company’s stock valued at $9,306,000 after buying an additional 1,385 shares during the period. Vestcor Inc grew its stake in shares of Flex by 32.9% in the fourth quarter. Vestcor Inc now owns 28,986 shares of the technology company’s stock worth $1,113,000 after acquiring an additional 7,174 shares in the last quarter. Swiss National Bank increased its position in shares of Flex by 0.3% during the fourth quarter. Swiss National Bank now owns 780,914 shares of the technology company’s stock worth $29,979,000 after acquiring an additional 2,300 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Flex by 199.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,367 shares of the technology company’s stock valued at $1,473,000 after acquiring an additional 25,549 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of Flex stock opened at $34.49 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The firm’s 50 day moving average is $40.19 and its two-hundred day moving average is $37.27. The firm has a market capitalization of $13.21 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS 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%. Research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity

In other Flex news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 202,850 shares in the company, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. This trade represents 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.

Analysts Set New Price Targets

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