Franklin Resources Inc. decreased its holdings in shares of Flex (NASDAQ:FLEX) by 23.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,305,486 shares of the technology company’s stock after selling 1,323,562 shares during the quarter. Franklin Resources Inc. owned 0.82% of Flex worth $77,455,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Investment House LLC grew its holdings in shares of Flex by 1.1% during the fourth quarter. Investment House LLC now owns 272,250 shares of the technology company’s stock valued at $4,898,000 after buying an additional 2,850 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Flex by 11.0% during the fourth quarter. IFP Advisors Inc now owns 31,047 shares of the technology company’s stock valued at $559,000 after buying an additional 3,069 shares in the last quarter. ETRADE Capital Management LLC grew its holdings in shares of Flex by 13.8% during the fourth quarter. ETRADE Capital Management LLC now owns 27,103 shares of the technology company’s stock valued at $488,000 after buying an additional 3,294 shares in the last quarter. Regentatlantic Capital LLC grew its holdings in shares of Flex by 13.4% during the fourth quarter. Regentatlantic Capital LLC now owns 39,543 shares of the technology company’s stock valued at $711,000 after buying an additional 4,660 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Flex by 7.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 87,991 shares of the technology company’s stock valued at $1,583,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 97.59% of the company’s stock.
In related news, Director Willy C. Shih sold 13,597 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.91, for a total transaction of $243,522.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.83% of the stock is currently owned by insiders.
Shares of NASDAQ FLEX traded down $0.40 during trading hours on Friday, hitting $15.99. 1,696,278 shares of the company’s stock were exchanged, compared to its average volume of 4,344,386. Flex has a 1-year low of $14.70 and a 1-year high of $19.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 1.22. The stock has a market capitalization of $8,437.36, a PE ratio of 15.68, a P/E/G ratio of 0.81 and a beta of 0.85.
Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Flex had a return on equity of 20.44% and a net margin of 2.15%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. equities research analysts forecast that Flex will post 1.08 EPS for the current fiscal year.
FLEX has been the topic of a number of research analyst reports. ValuEngine upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. UBS reiterated a “buy” rating and set a $21.50 price target on shares of Flex in a report on Tuesday, December 19th. Zacks Investment Research raised Flex from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, March 27th. Stifel Nicolaus lifted their price objective on Flex from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Bank of America lifted their price objective on Flex from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.39.
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Flex Company Profile
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables customers to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies.
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