436,091 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Corebridge Financial Inc.

Corebridge Financial Inc. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 436,091 shares of the technology company’s stock, valued at approximately $16,742,000. Corebridge Financial Inc. owned about 0.11% of Flex as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC lifted its stake in Flex by 38.7% in the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock worth $1,185,000 after purchasing an additional 9,892 shares during the last quarter. Pathstone Holdings LLC raised its holdings 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 worth $2,018,000 after buying an additional 3,121 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Flex during the 3rd quarter worth approximately $429,000. Advisors Asset Management Inc. boosted its holdings in Flex by 7.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 51,254 shares of the technology company’s stock valued at $1,713,000 after acquiring an additional 3,627 shares during the period. Finally, First Horizon Advisors Inc. grew its position in 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 last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Stock Up 2.8 %

Shares of Flex stock opened at $37.42 on Tuesday. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.43 and a beta of 1.07. The firm’s 50-day moving average is $39.64 and its two-hundred day moving average is $37.46.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In related news, Director Lay Koon Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael P. Hartung sold 64,807 shares of the firm’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 transaction of $2,844,379.23. Following the completion of the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FLEX shares. 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 note 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 set a “buy” rating and a $52.00 target price on the stock. 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 data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $44.33.

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.