Thrivent Financial for Lutherans reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX – Get Rating) by 55.7% in the fourth quarter, HoldingsChannel reports. The firm owned 72,438 shares of the technology company’s stock after selling 91,162 shares during the period. Thrivent Financial for Lutherans’ holdings in Flex were worth $1,554,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in FLEX. JPMorgan Chase & Co. lifted its stake in shares of Flex by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 363,665 shares of the technology company’s stock worth $6,745,000 after purchasing an additional 33,349 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Flex by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 590,073 shares of the technology company’s stock valued at $10,946,000 after buying an additional 44,642 shares during the last quarter. American Century Companies Inc. raised its stake in Flex by 14.1% in the first quarter. American Century Companies Inc. now owns 130,278 shares of the technology company’s stock valued at $2,417,000 after buying an additional 16,073 shares during the last quarter. HighTower Advisors LLC raised its stake in Flex by 1.0% in the first quarter. HighTower Advisors LLC now owns 86,350 shares of the technology company’s stock valued at $1,600,000 after buying an additional 853 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in Flex in the first quarter valued at about $201,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. StockNews.com assumed coverage on Flex in a research note on Thursday. They issued a “hold” rating for the company. Citigroup increased their price target on Flex from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 27th.
Flex Stock Up 0.5 %
Shares of FLEX stock opened at $24.30 on Friday. The stock’s 50-day simple moving average is $21.52 and its 200-day simple moving average is $22.01. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.68 and a current ratio of 1.36. The firm has a market capitalization of $10.96 billion, a PE ratio of 14.21, a P/E/G ratio of 0.87 and a beta of 1.46. Flex Ltd. has a fifty-two week low of $13.63 and a fifty-two week high of $25.12.
Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment comprised of Communications, Enterprise and Cloud (CEC) includes data infrastructure, edge infrastructure and communications infrastructure, Lifestyle includes appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices include mobile and high velocity consumer devices.
- Get a free copy of the StockNews.com research report on Flex (FLEX)
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