Yousif Capital Management LLC Has $464,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Yousif Capital Management LLC reduced its stake in Flex Ltd. (NASDAQ:FLEX) by 7.0% during the fourth quarter, HoldingsChannel reports. The firm owned 15,245 shares of the technology company’s stock after selling 1,145 shares during the quarter. Yousif Capital Management LLC’s holdings in Flex were worth $464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System raised its position in Flex by 63.9% in the fourth quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after purchasing an additional 944,928 shares during the last quarter. Cetera Trust Company N.A bought a new position in Flex in the 4th quarter valued at approximately $305,000. CWM LLC grew its holdings in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares during the last quarter. abrdn plc increased its position in Flex by 106.0% in the 4th quarter. abrdn plc now owns 146,524 shares of the technology company’s stock valued at $4,463,000 after acquiring an additional 75,387 shares during the period. Finally, Prosperity Wealth Management Inc. bought a new position in shares of Flex during the fourth quarter valued at $222,000. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

Shares of NASDAQ FLEX opened at $29.19 on Tuesday. The firm’s 50-day moving average price is $28.48 and its 200-day moving average price is $26.88. Flex Ltd. has a 1-year low of $20.41 and a 1-year high of $30.93. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $12.29 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.74 and a beta of 1.18.

Insider Activity

In other news, EVP David Scott Offer sold 75,000 shares of the business’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 directly owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Flex news, EVP David Scott Offer sold 75,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 162,094 shares in the company, valued at approximately $4,460,826.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rebecca Sidelinger sold 13,675 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the completion of the sale, the insider now owns 161,913 shares of the company’s stock, valued at approximately $4,531,944.87. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock worth $4,055,311 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 4th. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. StockNews.com started coverage on Flex in a report on Wednesday, March 6th. They issued a “hold” rating on the stock. Barclays raised their price target on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

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.