Flex Ltd. $FLEX Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,663 shares of the technology company’s stock after selling 3,432 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Flex were worth $23,604,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the period. State Street Corp raised its stake in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the period. Geode Capital Management LLC raised its stake in shares of Flex by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after buying an additional 181,266 shares during the period. Norges Bank purchased a new stake in shares of Flex during the fourth quarter worth approximately $319,756,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Flex by 118.1% during the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock worth $162,968,000 after purchasing an additional 1,522,308 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on FLEX shares. Robert W. Baird set a $165.00 price target on Flex in a research report on Thursday, May 7th. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. The Goldman Sachs Group boosted their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. KeyCorp boosted their price target on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Flex Stock Down 0.7%

Shares of NASDAQ:FLEX opened at $150.83 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $109.29 and a two-hundred day moving average of $79.53. The stock has a market cap of $55.26 billion, a P/E ratio of 64.73, a PEG ratio of 0.80 and a beta of 1.63. Flex Ltd. has a 52-week low of $42.83 and a 52-week high of $166.86.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, research analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 22,216 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the completion of the sale, the insider directly owned 232,706 shares in the company, valued at $33,132,680.28. This represents a 8.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total value of $2,378,775.00. Following the completion of the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at approximately $32,425,149.99. The trade was a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 345,012 shares of company stock worth $48,508,103 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.