American Century Companies Inc. Boosts Stake in Flex Ltd. (NASDAQ:FLEX)

American Century Companies Inc. boosted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 27.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 331,989 shares of the technology company’s stock after purchasing an additional 72,169 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of Flex worth $9,790,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FLEX. Boston Partners boosted its position 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 purchasing an additional 10,201,162 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Flex during the first quarter worth $51,543,000. Troluce Capital Advisors LLC boosted its position in Flex by 104.3% during the fourth 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. raised its holdings in shares of Flex by 48.1% in the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock worth $50,479,000 after acquiring an additional 556,286 shares during the last quarter. Finally, Oribel Capital Management LP raised its holdings in shares of Flex by 212.9% in the fourth quarter. Oribel Capital Management LP now owns 547,600 shares of the technology company’s stock worth $16,680,000 after acquiring an additional 372,600 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the sale, the insider now owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the sale, the executive vice president now owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,576,373.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,028 shares of company stock valued at $904,530. Company insiders own 0.82% of the company’s stock.

Flex Stock Performance

Flex stock opened at $32.93 on Monday. The firm has a market capitalization of $13.13 billion, a P/E ratio of 14.32, a PEG ratio of 1.74 and a beta of 1.09. The stock has a fifty day moving average price of $30.70 and a 200 day moving average price of $30.05. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $34.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

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

Analysts Set New Price Targets

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

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.