Flex Ltd. (NASDAQ:FLEX) is Delphi Management Inc. MA’s 7th Largest Position

Delphi Management Inc. MA lowered its stake in Flex Ltd. (NASDAQ:FLEX) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,231 shares of the technology company’s stock after selling 4,154 shares during the period. Flex comprises 1.6% of Delphi Management Inc. MA’s investment portfolio, making the stock its 7th biggest position. Delphi Management Inc. MA’s holdings in Flex were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Huntington National Bank raised its holdings in 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 acquiring an additional 479 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Flex in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Flex in the 4th quarter valued at $38,000. First Horizon Advisors Inc. lifted its position in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Flex by 82.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after purchasing an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Michael P. Hartung sold 64,807 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Trading Up 2.1 %

FLEX opened at $35.23 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a 52 week low of $25.27 and a 52 week high of $45.10. The business’s 50 day moving average is $40.09 and its two-hundred day moving average is $37.29. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 2.43 and a beta of 1.07.

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, topping 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%. On average, research analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

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.