Alliancebernstein L.P. decreased its holdings in Flex Ltd (NASDAQ:FLEX) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,901,520 shares of the technology company’s stock after selling 134,372 shares during the quarter. Alliancebernstein L.P. owned 0.93% of Flex worth $64,308,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of FLEX. Bank of Montreal Can grew its position in Flex by 116.5% during the 3rd quarter. Bank of Montreal Can now owns 12,696 shares of the technology company’s stock worth $167,000 after purchasing an additional 6,831 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Flex during the 3rd quarter worth approximately $203,000. Signition LP purchased a new position in Flex during the 3rd quarter worth approximately $219,000. Tower Research Capital LLC TRC grew its position in Flex by 109.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,817 shares of the technology company’s stock worth $223,000 after purchasing an additional 8,267 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in Flex by 51.3% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 17,253 shares of the technology company’s stock worth $226,000 after purchasing an additional 5,850 shares in the last quarter. Hedge funds and other institutional investors own 96.16% of the company’s stock.
FLEX has been the topic of several research analyst reports. Argus cut shares of Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Zacks Investment Research upgraded shares of Flex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine cut shares of Flex from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. BidaskClub cut shares of Flex from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Finally, Macquarie set a $9.00 price objective on shares of Flex and gave the stock a “hold” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Flex currently has an average rating of “Hold” and a consensus price target of $17.94.
Shares of NASDAQ:FLEX opened at $8.25 on Monday. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 0.96 and a beta of 1.52. Flex Ltd has a 12-month low of $6.74 and a 12-month high of $19.71. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.23 and a quick ratio of 0.69.
Flex (NASDAQ:FLEX) last issued its earnings results on Thursday, October 25th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.81 billion. Flex had a net margin of 1.15% and a return on equity of 9.83%. Equities analysts forecast that Flex Ltd will post 0.82 EPS for the current fiscal year.
Flex announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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