Daiwa Securities Group Inc. Sells 1,132 Shares of Flex Ltd. (NASDAQ:FLEX)

Daiwa Securities Group Inc. cut its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,525 shares of the technology company’s stock after selling 1,132 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Flex were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ardsley Advisory Partners LP boosted its stake in Flex by 11.5% during the third quarter. Ardsley Advisory Partners LP now owns 393,500 shares of the technology company’s stock worth $10,617,000 after acquiring an additional 40,500 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Flex in the fourth quarter valued at $2,909,000. Vontobel Holding Ltd. lifted its stake in shares of Flex by 21.8% in the fourth quarter. Vontobel Holding Ltd. now owns 201,902 shares of the technology company’s stock valued at $6,150,000 after buying an additional 36,082 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Flex by 9.3% in the third quarter. Legal & General Group Plc now owns 2,291,905 shares of the technology company’s stock valued at $61,836,000 after buying an additional 195,447 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Flex by 5.7% in the third quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock valued at $150,583,000 after buying an additional 302,086 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on FLEX. The Goldman Sachs Group raised their price objective on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, StockNews.com began coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Flex Stock Up 3.3 %

FLEX opened at $28.53 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.59 and a quick ratio of 0.86. The company’s 50-day moving average is $28.43 and its 200 day moving average is $26.75. Flex Ltd. has a fifty-two week low of $19.44 and a fifty-two week high of $30.93. The firm has a market capitalization of $12.02 billion, a P/E ratio of 16.98, a PEG ratio of 1.69 and a beta of 1.20.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.73 billion. Research analysts expect that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the sale, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kwang Hooi Tan sold 8,027 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total transaction of $231,257.87. Following the completion of the sale, the insider now owns 159,718 shares in the company, valued at $4,601,475.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the completion of the transaction, the executive vice president now owns 162,094 shares of the company’s stock, valued at approximately $4,460,826.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,943 shares of company stock worth $4,055,311. Insiders own 0.56% of the company’s stock.

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.