ClariVest Asset Management LLC Has $1.67 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

ClariVest Asset Management LLC decreased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,289 shares of the technology company’s stock after selling 522 shares during the period. ClariVest Asset Management LLC’s holdings in Flex were worth $1,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FLEX. Norges Bank acquired a new position in Flex during the 4th quarter worth about $165,000,000. California Public Employees Retirement System lifted its position in Flex by 63.9% during the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after purchasing an additional 944,928 shares during the period. Boston Partners lifted its position in Flex by 7.5% during the 4th quarter. Boston Partners now owns 8,967,046 shares of the technology company’s stock valued at $272,891,000 after purchasing an additional 624,414 shares during the period. Troluce Capital Advisors LLC lifted its position in Flex by 104.3% during the 4th quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock valued at $34,268,000 after purchasing an additional 574,308 shares during the period. Finally, Brandes Investment Partners LP lifted its position in Flex by 26.8% during the 4th quarter. Brandes Investment Partners LP now owns 1,936,148 shares of the technology company’s stock valued at $58,975,000 after purchasing an additional 409,435 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Revathi Advaithi sold 37,170 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the completion of the sale, the chief executive officer now directly owns 2,057,473 shares of the company’s stock, valued at approximately $64,398,904.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Revathi Advaithi sold 37,170 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the completion of the sale, the chief executive officer now directly owns 2,057,473 shares of the company’s stock, valued at approximately $64,398,904.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Daniel Wendler sold 1,275 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $31.30, for a total value of $39,907.50. Following the transaction, the chief accounting officer now directly owns 32,510 shares of the company’s stock, valued at approximately $1,017,563. The disclosure for this sale can be found here. In the last three months, insiders sold 804,542 shares of company stock valued at $25,147,972. 0.82% of the stock is owned by corporate insiders.

Flex Trading Up 0.9 %

Shares of FLEX stock traded up $0.27 on Friday, reaching $30.39. The company had a trading volume of 2,271,195 shares, compared to its average volume of 3,069,977. The company has a 50-day moving average of $30.82 and a 200-day moving average of $28.38. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market cap of $12.12 billion, a PE ratio of 13.21, a PEG ratio of 2.03 and a beta of 1.12.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) 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 business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. On average, equities analysts forecast that Flex Ltd. will post 2.06 earnings per share for the current year.

Analyst Ratings Changes

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

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.