Allspring Global Investments Holdings LLC Has $1.70 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Allspring Global Investments Holdings LLC cut its stake in shares of Flex Ltd. (NASDAQ:FLEX – Get Rating) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,926 shares of the technology company’s stock after selling 5,822 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Flex were worth $1,698,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FLEX. Toth Financial Advisory Corp bought a new stake in Flex in the third quarter valued at approximately $30,000. Assetmark Inc. raised its stake in Flex by 37.4% in the second quarter. Assetmark Inc. now owns 4,390 shares of the technology company’s stock valued at $64,000 after buying an additional 1,195 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Flex during the second quarter worth approximately $82,769,000. Illinois Municipal Retirement Fund increased its stake in shares of Flex by 68.3% during the second quarter. Illinois Municipal Retirement Fund now owns 103,871 shares of the technology company’s stock worth $1,503,000 after purchasing an additional 42,157 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Flex by 9.1% during the second quarter. Allianz Asset Management GmbH now owns 6,481,925 shares of the technology company’s stock worth $93,793,000 after purchasing an additional 543,262 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Flex Price Performance

Shares of NASDAQ FLEX opened at $24.24 on Friday. The firm has a market cap of $10.98 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.45. The company has a current ratio of 1.29, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74. Flex Ltd. has a 1-year low of $13.63 and a 1-year high of $25.12. The business’s 50 day moving average is $21.79 and its 200-day moving average is $18.96.

Flex (NASDAQ:FLEX – Get Rating) last posted its quarterly earnings data on Wednesday, October 26th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Flex had a return on equity of 20.33% and a net margin of 2.85%. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.20 billion. Equities research analysts predict that Flex Ltd. will post 1.77 earnings per share for the current year.

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 3,744 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $20.03, for a total transaction of $74,992.32. Following the transaction, the insider now owns 139,361 shares in the company, valued at approximately $2,791,400.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Flex news, Director Charles K. Stevens III sold 20,000 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $21.69, for a total value of $433,800.00. Following the sale, the director now owns 52,380 shares of the company’s stock, valued at approximately $1,136,122.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael P. Hartung sold 3,744 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $20.03, for a total value of $74,992.32. Following the completion of the sale, the insider now directly owns 139,361 shares in the company, valued at approximately $2,791,400.83. The disclosure for this sale can be found here. Insiders have sold a total of 84,730 shares of company stock worth $1,734,074 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th.

Flex Profile

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Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.