Brandywine Global Investment Management LLC Grows Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Brandywine Global Investment Management LLC lifted its position in Flex Ltd. (NASDAQ:FLEX) by 219.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,349 shares of the technology company’s stock after buying an additional 91,571 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Flex were worth $5,119,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FLEX. Citigroup Inc. raised its holdings in shares of Flex by 5.9% during the 3rd quarter. Citigroup Inc. now owns 144,575 shares of the technology company’s stock valued at $4,833,000 after buying an additional 8,088 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Flex by 9.0% during the 3rd quarter. Cerity Partners LLC now owns 18,716 shares of the technology company’s stock valued at $626,000 after purchasing an additional 1,538 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Flex during the 3rd quarter worth approximately $460,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Flex by 11.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,123 shares of the technology company’s stock worth $3,414,000 after purchasing an additional 10,527 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Flex by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,184,485 shares of the technology company’s stock worth $73,027,000 after acquiring an additional 49,928 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Trading Up 0.8 %

FLEX stock opened at $33.36 on Wednesday. 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 company has a market capitalization of $12.78 billion, a PE ratio of 13.45, a P/E/G ratio of 2.43 and a beta of 1.07. The firm’s 50-day moving average is $38.68 and its 200 day moving average is $37.68. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating 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%. On average, research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of Flex 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 transaction, the insider now directly owns 233,526 shares of the company’s stock, valued at $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction dated Monday, February 10th. The shares were 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 approximately $8,773,262.50. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

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.