Sapient Capital LLC Purchases Shares of 25,410 Flex Ltd. (NASDAQ:FLEX)

Sapient Capital LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 25,410 shares of the technology company’s stock, valued at approximately $774,000.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Flex by 0.6% in the 3rd quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock worth $1,204,998,000 after purchasing an additional 247,024 shares during the period. LSV Asset Management lifted its position in shares of Flex by 0.7% in the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock worth $214,660,000 after purchasing an additional 51,068 shares during the period. Vanguard Group Inc. lifted its position in shares of Flex by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,581,270 shares of the technology company’s stock worth $150,583,000 after purchasing an additional 302,086 shares during the period. Earnest Partners LLC lifted its position in shares of Flex by 3.2% in the 3rd quarter. Earnest Partners LLC now owns 4,425,891 shares of the technology company’s stock worth $119,411,000 after purchasing an additional 138,979 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Flex by 63.9% in the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock worth $73,817,000 after purchasing an additional 944,928 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Up 1.8 %

NASDAQ:FLEX traded up $0.48 on Friday, reaching $27.90. 7,558,170 shares of the stock traded hands, compared to its average volume of 4,047,069. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 12 month low of $19.85 and a 12 month high of $30.93. The company’s fifty day simple moving average is $28.46 and its 200 day simple moving average is $26.84.

Flex (NASDAQ:FLEX) last released its quarterly earnings data 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 3.58% and a return on equity of 15.88%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.73 billion. Equities analysts predict that Flex Ltd. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLEX. StockNews.com began coverage on shares of Flex in a research report on Wednesday, March 6th. They set a “hold” rating for the company. The Goldman Sachs Group lifted their price target on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum cut shares of Flex from a “buy” rating to a “hold” rating and lowered their price target for the company from $28.00 to $27.00 in a research report on Thursday. Finally, Barclays lifted their price target on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Flex currently has an average rating of “Moderate Buy” and an average target price of $32.83.

Insider Transactions at Flex

In other news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at $830,009.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at $830,009.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 of the company’s stock, valued at $4,601,475.58. The disclosure for this sale can be found here. Insiders sold 141,943 shares of company stock worth $4,055,311 over the last three months. 0.56% of the stock is currently owned by company insiders.

Flex 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.