Assetmark Inc. Increases Holdings in Flex Ltd. (NASDAQ:FLEX)

Assetmark Inc. increased its stake in Flex Ltd. (NASDAQ:FLEX – Get Rating) by 19.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,258 shares of the technology company’s stock after buying an additional 868 shares during the quarter. Assetmark Inc.’s holdings in Flex were worth $88,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. FMR LLC grew its position in shares of Flex by 2.6% in the second quarter. FMR LLC now owns 24,202,757 shares of the technology company’s stock valued at $350,214,000 after purchasing an additional 611,858 shares in the last quarter. Franklin Resources Inc. grew its position in Flex by 14.1% during the second quarter. Franklin Resources Inc. now owns 14,792,799 shares of the technology company’s stock worth $214,052,000 after buying an additional 1,831,251 shares in the last quarter. Invesco Ltd. grew its position in Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after buying an additional 5,741,044 shares in the last quarter. Macquarie Group Ltd. grew its position in Flex by 0.5% during the second quarter. Macquarie Group Ltd. now owns 7,738,381 shares of the technology company’s stock worth $111,975,000 after buying an additional 35,557 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in 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 buying an additional 543,262 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Flex Trading Up 2.6 %

Shares of FLEX stock opened at $24.24 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.29 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $21.79 and a two-hundred day moving average price of $18.99. Flex Ltd. has a 12-month low of $13.63 and a 12-month high of $25.12. 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.

Flex (NASDAQ:FLEX – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $7.20 billion. Equities analysts anticipate that Flex Ltd. will post 1.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Charles K. Stevens III sold 20,000 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $21.69, for a total value of $433,800.00. Following the completion of the sale, the director now owns 52,380 shares of the company’s stock, valued at approximately $1,136,122.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Flex news, Director Charles K. Stevens III sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $21.69, for a total transaction of $433,800.00. Following the completion of the transaction, the director now owns 52,380 shares of the company’s stock, valued at approximately $1,136,122.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 44,898 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $19.66, for a total value of $882,694.68. Following the transaction, the insider now directly owns 143,105 shares of the company’s stock, valued at approximately $2,813,444.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,730 shares of company stock valued at $1,734,074. Insiders own 0.54% of the company’s stock.

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.