Flex Ltd. (NASDAQ:FLEX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 39.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 951 shares of the technology company’s stock after selling 607 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Flex were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of Flex by 0.6% in the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after acquiring an additional 839 shares during the period. Bleakley Financial Group LLC purchased a new stake in shares of Flex during the 3rd quarter worth about $208,000. Sax Wealth Advisors LLC lifted its position in Flex by 17.5% during the 3rd quarter. Sax Wealth Advisors LLC now owns 16,613 shares of the technology company’s stock worth $555,000 after acquiring an additional 2,472 shares in the last quarter. Net Worth Advisory Group acquired a new position in Flex during the 3rd quarter worth approximately $323,000. Finally, Raymond James & Associates raised its position in shares of Flex by 0.8% in the 3rd quarter. Raymond James & Associates now owns 680,888 shares of the technology company’s stock valued at $22,762,000 after purchasing an additional 5,681 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Price Performance

FLEX opened at $42.51 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The company has a market capitalization of $16.29 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 2.58 and a beta of 1.10. Flex Ltd. has a 1 year low of $25.27 and a 1 year high of $45.10. The firm’s fifty day moving average price is $40.64 and its two-hundred day moving average price is $36.29.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) 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%. As a group, analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at $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 corporate insiders.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus initiated coverage on Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flex currently has a consensus rating of “Buy” and a consensus target price of $44.33.

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.