Calamos Advisors LLC Buys 141,179 Shares of Flex Ltd. (NASDAQ:FLEX)

Calamos Advisors LLC boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 712.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,000 shares of the technology company’s stock after purchasing an additional 141,179 shares during the period. Calamos Advisors LLC’s holdings in Flex were worth $6,181,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. One Wealth Advisors LLC purchased a new stake in Flex during the fourth quarter valued at $368,000. DAVENPORT & Co LLC bought a new stake in shares of Flex during the 4th quarter valued at about $220,000. Caprock Group LLC purchased a new stake in shares of Flex during the 4th quarter valued at about $229,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Flex by 5.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,571 shares of the technology company’s stock worth $19,639,000 after purchasing an additional 25,223 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Flex in the fourth quarter worth approximately $35,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Performance

NASDAQ FLEX opened at $41.92 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex Ltd. has a twelve month low of $24.05 and a twelve month high of $45.10. The business has a 50-day moving average price of $39.99 and a 200-day moving average price of $35.65. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10.

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, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. As a group, equities research analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the topic of several recent research reports. Barclays increased their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Stifel Nicolaus boosted their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and a consensus target price of $43.67.

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.