Dimensional Fund Advisors LP Lowers Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Dimensional Fund Advisors LP cut its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 11.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,771,100 shares of the technology company’s stock after selling 1,315,405 shares during the period. Dimensional Fund Advisors LP owned 2.19% of Flex worth $270,070,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Quarry LP acquired a new position in Flex in the first quarter valued at $38,000. Edmond DE Rothschild Holding S.A. acquired a new position in Flex in the first quarter valued at $76,000. Covestor Ltd boosted its holdings in Flex by 130.7% in the first quarter. Covestor Ltd now owns 5,137 shares of the technology company’s stock valued at $95,000 after acquiring an additional 2,910 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Flex by 8.9% in the second quarter. Captrust Financial Advisors now owns 9,593 shares of the technology company’s stock valued at $139,000 after acquiring an additional 780 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Flex by 12.4% in the first quarter. Assetmark Inc. now owns 6,214 shares of the technology company’s stock valued at $143,000 after acquiring an additional 685 shares during the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FLEX shares. Barclays initiated coverage on Flex in a report on Thursday, September 7th. They issued an “overweight” rating and a $35.00 target price on the stock. Credit Suisse Group restated an “outperform” rating and set a $34.00 price objective on shares of Flex in a research note on Monday, July 24th. Finally, StockNews.com initiated coverage on Flex in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

Insider Activity at Flex

In related news, Director Erin Mcsweeney sold 9,500 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $25.64, for a total value of $243,580.00. Following the completion of the sale, the director now directly owns 27,227 shares of the company’s stock, valued at $698,100.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Erin Mcsweeney sold 9,500 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $25.64, for a total value of $243,580.00. Following the completion of the sale, the director now directly owns 27,227 shares of the company’s stock, valued at $698,100.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Paul Lundstrom sold 53,517 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $25.72, for a total value of $1,376,457.24. Following the transaction, the chief financial officer now directly owns 431,350 shares of the company’s stock, valued at $11,094,322. The disclosure for this sale can be found here. Insiders sold a total of 213,017 shares of company stock valued at $5,493,037 over the last three months. 0.56% of the stock is owned by insiders.

Flex Trading Up 0.0 %

NASDAQ:FLEX opened at $26.81 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 1.53. Flex Ltd. has a one year low of $19.15 and a one year high of $28.90. The business’s 50-day simple moving average is $25.87 and its 200 day simple moving average is $26.00. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. Flex had a return on equity of 16.86% and a net margin of 2.62%. The business had revenue of $7.47 billion for the quarter, compared to analysts’ expectations of $7.52 billion. As a group, sell-side analysts predict that Flex Ltd. will post 2.19 earnings per share for the current fiscal year.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.