Advisors Asset Management Inc. Purchases 13,226 Shares of Flex Ltd. (NASDAQ:FLEX)

Advisors Asset Management Inc. raised its position in shares of Flex Ltd. (NASDAQ:FLEX) by 25.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,480 shares of the technology company’s stock after purchasing an additional 13,226 shares during the period. Advisors Asset Management Inc.’s holdings in Flex were worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FLEX. CIBC Asset Management Inc raised its position in Flex by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 15,132 shares of the technology company’s stock valued at $506,000 after purchasing an additional 786 shares in the last quarter. Natixis Advisors LLC raised its position in Flex by 38.7% during the 3rd quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock valued at $1,185,000 after purchasing an additional 9,892 shares in the last quarter. Pathstone Holdings LLC raised its position in Flex by 5.5% during the 3rd quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company’s stock valued at $2,018,000 after purchasing an additional 3,121 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Flex during the 3rd quarter valued at $429,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of 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 acquiring an additional 305 shares during the period. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Up 0.9 %

Flex stock opened at $36.40 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The business’s 50-day simple moving average is $39.68 and its two-hundred day simple moving average is $37.32. The company has a market cap of $13.94 billion, a PE ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.07. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10.

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

Flex 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.