Lyrical Asset Management LP boosted its holdings in shares of Flex Ltd (NASDAQ:FLEX) by 3.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,457,284 shares of the technology company’s stock after purchasing an additional 407,456 shares during the period. Flex makes up 3.0% of Lyrical Asset Management LP’s investment portfolio, making the stock its 15th largest holding. Lyrical Asset Management LP owned about 2.55% of Flex worth $242,097,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. First Personal Financial Services grew its holdings in Flex by 227.4% in the fourth quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock valued at $161,000 after purchasing an additional 6,233 shares during the period. CIBC World Markets Inc. purchased a new stake in Flex during the fourth quarter worth approximately $196,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Flex during the fourth quarter worth $236,000. Capital Fund Management S.A. acquired a new position in shares of Flex during the fourth quarter worth $240,000. Finally, Woodmont Investment Counsel LLC acquired a new position in shares of Flex during the third quarter worth $244,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flex Ltd (NASDAQ:FLEX) traded down $0.41 during midday trading on Wednesday, hitting $18.39. The company’s stock had a trading volume of 7,779,629 shares, compared to its average volume of 4,418,145. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 1.22. Flex Ltd has a 12 month low of $14.70 and a 12 month high of $19.71. The company has a market capitalization of $9,690.00, a PE ratio of 18.39, a PEG ratio of 1.04 and a beta of 0.77.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. Flex had a return on equity of 20.44% and a net margin of 2.15%. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.50 billion. During the same period last year, the company earned $0.34 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. equities analysts forecast that Flex Ltd will post 1.08 EPS for the current year.
FLEX has been the topic of a number of research reports. BidaskClub cut shares of Flex from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. UBS Group restated a “buy” rating and set a $21.50 price target on shares of Flex in a research report on Tuesday, December 19th. Needham & Company LLC increased their target price on shares of Flex from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Bank of America raised their price objective on shares of Flex from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus raised their price objective on shares of Flex from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.56.
In other Flex news, Director Willy C. Shih sold 13,597 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.91, for a total value of $243,522.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.83% of the company’s stock.
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Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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