Flex Ltd. (NASDAQ:FLEX) Stake Raised by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its holdings in Flex Ltd. (NASDAQ:FLEX) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,571 shares of the technology company’s stock after acquiring an additional 25,223 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Flex were worth $19,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Flex in the 3rd quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Flex during the 4th quarter worth about $35,000. Huntington National Bank raised its stake in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex during the 3rd quarter worth about $39,000. Finally, Quarry LP purchased a new stake in shares of Flex during the 2nd quarter worth about $43,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FLEX shares. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. Stifel Nicolaus raised their price target on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Craig Hallum raised their price target on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Barclays raised their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $43.67.

Flex Stock Performance

FLEX opened at $41.65 on Friday. The firm has a market capitalization of $16.15 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The stock’s 50 day moving average price is $39.96 and its two-hundred day moving average price is $35.42. 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 12-month low of $23.64 and a 12-month high of $45.10.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. On average, equities analysts forecast that Flex Ltd. will post 2.16 earnings per share for the current year.

About Flex

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.