Macquarie Group Ltd. Buys 3,248,392 Shares of Flex Ltd (NASDAQ:FLEX)

Macquarie Group Ltd. raised its stake in Flex Ltd (NASDAQ:FLEX) by 474.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,932,601 shares of the technology company’s stock after purchasing an additional 3,248,392 shares during the period. Macquarie Group Ltd. owned 0.75% of Flex worth $29,927,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Primecap Management Co. CA lifted its holdings in shares of Flex by 13.4% during the third quarter. Primecap Management Co. CA now owns 65,011,618 shares of the technology company’s stock worth $852,952,000 after purchasing an additional 7,670,189 shares during the period. Victory Capital Management Inc. increased its position in shares of Flex by 52.9% in the fourth quarter. Victory Capital Management Inc. now owns 20,176,057 shares of the technology company’s stock valued at $153,540,000 after buying an additional 6,979,920 shares in the last quarter. Lyrical Asset Management LP increased its position in shares of Flex by 8.2% in the third quarter. Lyrical Asset Management LP now owns 15,859,243 shares of the technology company’s stock valued at $208,073,000 after buying an additional 1,196,198 shares in the last quarter. BlackRock Inc. increased its position in shares of Flex by 5.4% in the fourth quarter. BlackRock Inc. now owns 10,007,102 shares of the technology company’s stock valued at $76,154,000 after buying an additional 515,902 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of Flex by 40.7% in the fourth quarter. Pzena Investment Management LLC now owns 8,968,354 shares of the technology company’s stock valued at $68,249,000 after buying an additional 2,593,410 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

FLEX remained flat at $$11.21 during midday trading on Friday. The company’s stock had a trading volume of 5,685,974 shares, compared to its average volume of 4,737,249. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.94. The stock has a market cap of $5.85 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.94 and a beta of 1.78. Flex Ltd has a 52 week low of $6.74 and a 52 week high of $17.44.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.77 billion. Flex had a return on equity of 4.47% and a net margin of 0.52%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. Equities research analysts predict that Flex Ltd will post 0.66 EPS for the current year.

A number of research analysts have recently weighed in on FLEX shares. ValuEngine upgraded Flex from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. cut Flex from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $14.00 to $12.00 in a research report on Wednesday, January 2nd. BidaskClub upgraded Flex from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded Flex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.17.

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Flex Profile

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.

See Also: Systematic Risk

Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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