5,730 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,730 shares of the technology company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caprock Group LLC purchased a new stake in Flex during the 4th quarter worth $229,000. Robeco Institutional Asset Management B.V. increased its stake in Flex by 5.2% during 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 buying an additional 25,223 shares during the period. R Squared Ltd acquired a new position in Flex during the 4th quarter worth $35,000. Pacer Advisors Inc. grew its holdings in Flex by 22,534.0% during the 4th quarter. Pacer Advisors Inc. now owns 74,466 shares of the technology company’s stock worth $2,859,000 after acquiring an additional 74,137 shares in the last quarter. Finally, KBC Group NV grew its holdings in Flex by 872.7% during the 4th quarter. KBC Group NV now owns 104,132 shares of the technology company’s stock worth $3,998,000 after acquiring an additional 93,426 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FLEX. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a report on Thursday, October 17th. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. Finally, Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $43.67.

Flex Trading Down 2.5 %

Shares of NASDAQ:FLEX opened at $43.16 on Monday. The company has a market cap of $16.53 billion, a PE ratio of 17.40, a P/E/G ratio of 2.58 and a beta of 1.10. The company’s 50-day moving average price is $40.27 and its 200 day moving average price is $35.93. Flex Ltd. has a fifty-two week low of $24.57 and a fifty-two week high of $45.10. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 0.63.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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%. Sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

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.