Flex Ltd. (NASDAQ:FLEX) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 24.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,204 shares of the technology company’s stock after purchasing an additional 3,000 shares during the period. First Eagle Investment Management LLC’s holdings in Flex were worth $448,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FLEX. Boston Partners grew its holdings in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after acquiring an additional 10,201,162 shares during the period. Westfield Capital Management Co. LP acquired a new position in Flex during the first quarter worth about $51,543,000. Troluce Capital Advisors LLC increased its stake in Flex by 104.3% in the 4th quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock worth $34,268,000 after purchasing an additional 574,308 shares in the last quarter. TCW Group Inc. increased its stake in Flex by 48.1% in the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock worth $50,479,000 after purchasing an additional 556,286 shares in the last quarter. Finally, Oribel Capital Management LP increased its stake in Flex by 212.9% in the 4th quarter. Oribel Capital Management LP now owns 547,600 shares of the technology company’s stock worth $16,680,000 after purchasing an additional 372,600 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and lifted their price target for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Barclays raised their price objective on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex presently has a consensus rating of “Buy” and a consensus price target of $38.40.

Flex Trading Up 1.6 %

Shares of NASDAQ FLEX opened at $32.93 on Friday. Flex Ltd. has a one year low of $21.84 and a one year high of $34.12. The firm has a market capitalization of $13.13 billion, a PE ratio of 14.32, a PEG ratio of 1.74 and a beta of 1.09. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $30.70 and a two-hundred day moving average price of $30.06.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.09. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. As a group, analysts predict that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now directly owns 168,094 shares in the company, valued at approximately $5,377,327.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the sale, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the sale, the executive vice president now directly owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock worth $904,530 in the last three months. 0.82% of the stock is owned by insiders.

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.