LSV Asset Management Trims Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

LSV Asset Management trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,982,173 shares of the technology company’s stock after selling 65,100 shares during the quarter. LSV Asset Management owned approximately 1.66% of Flex worth $199,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Richardson Financial Services Inc. purchased a new position in Flex during the 4th quarter worth $34,000. CWM LLC increased its holdings in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after purchasing an additional 773 shares during the period. Fifth Third Bancorp increased its holdings in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,455 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Flex in the 4th quarter valued at $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Flex in the 4th quarter valued at $77,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLEX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Barclays lifted their price target on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Finally, Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and cut their price target for the company from $28.00 to $27.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.20.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 1,670 shares of Flex stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the completion of the sale, the chief accounting officer now owns 27,060 shares of the company’s stock, valued at approximately $880,261.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Flex news, CAO Daniel Wendler sold 1,670 shares of Flex stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the completion of the transaction, the chief accounting officer now owns 27,060 shares in the company, valued at approximately $880,261.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael D. Capellas sold 78,872 shares of Flex stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.64, for a total value of $2,653,254.08. Following the transaction, the director now owns 219,037 shares of the company’s stock, valued at approximately $7,368,404.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 804,542 shares of company stock valued at $25,147,972. 0.82% of the stock is owned by company insiders.

Flex Stock Up 0.9 %

Shares of Flex stock traded up $0.27 during trading on Friday, reaching $30.39. The company’s stock had a trading volume of 2,270,877 shares, compared to its average volume of 4,596,927. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 2.00 and a beta of 1.12. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a 50-day simple moving average of $30.82 and a two-hundred day simple moving average of $28.40.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. As a group, equities analysts forecast that Flex Ltd. will post 2.06 earnings per share 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.