Connor Clark & Lunn Investment Management Ltd. Buys 25,549 Shares of Flex Ltd. (NASDAQ:FLEX)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 199.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,367 shares of the technology company’s stock after purchasing an additional 25,549 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Flex were worth $1,473,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Flex during the 4th quarter valued at approximately $32,293,000. Mutual of America Capital Management LLC purchased a new position in shares of Flex during the 4th quarter valued at $7,864,000. State of Alaska Department of Revenue purchased a new stake in Flex in the 4th quarter worth $1,697,000. One Wealth Advisors LLC bought a new stake in Flex during the fourth quarter valued at about $368,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Flex by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock valued at $202,152,000 after acquiring an additional 296,505 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 64,807 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Flex Price Performance

Flex stock opened at $35.95 on Thursday. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $39.86 and its 200 day moving average is $37.30. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.43 and a beta of 1.07.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. Sell-side analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays lifted their target price on Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus started coverage on shares of Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price for the company. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $44.33.

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.