Boston Partners Purchases 569,916 Shares of Flex Ltd. (NASDAQ:FLEX)

Boston Partners increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 2.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,114,574 shares of the technology company’s stock after purchasing an additional 569,916 shares during the period. Flex accounts for 1.2% of Boston Partners’ investment portfolio, making the stock its 8th largest holding. Boston Partners owned approximately 0.07% of Flex worth $1,006,436,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FLEX. KBC Group NV increased its holdings in shares of Flex by 10.3% in the third quarter. KBC Group NV now owns 10,706 shares of the technology company’s stock valued at $358,000 after purchasing an additional 1,003 shares during the last quarter. Huntington National Bank increased 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 purchasing an additional 479 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Flex by 5.5% in the third 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 during the last quarter. Natixis Advisors LLC boosted its position in shares of Flex by 38.7% in the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 9,892 shares during the period. Finally, Pathstone Holdings LLC boosted its position in shares of Flex by 5.5% in the third quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company’s stock valued at $2,018,000 after acquiring an additional 3,121 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Flex

In other news, Director Lay Koon Tan sold 50,000 shares of the company’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 transaction, the director now owns 202,850 shares of the company’s stock, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction that occurred on 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 $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Flex Trading Up 2.1 %

FLEX opened at $35.23 on Tuesday. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The company has a 50-day simple moving average of $40.09 and a 200 day simple moving average of $37.29. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 14.21, 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, topping 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%. Analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.