Cerebellum GP LLC Acquires 20,050 Shares of Flex Ltd (FLEX)

Cerebellum GP LLC boosted its holdings in Flex Ltd (NASDAQ:FLEX) by 143.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,022 shares of the technology company’s stock after acquiring an additional 20,050 shares during the quarter. Cerebellum GP LLC’s holdings in Flex were worth $259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can lifted its position in shares of 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 buying an additional 6,831 shares in the last quarter. Bank of Hawaii purchased a new stake in shares of Flex during the 3rd quarter worth approximately $170,000. HRT Financial LLC purchased a new stake in shares of Flex during the 3rd quarter worth approximately $184,000. Engineers Gate Manager LP purchased a new stake in shares of Flex during the 3rd quarter worth approximately $203,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

In other Flex news, Director Marc A. Onetto acquired 11,500 shares of Flex stock in a transaction that occurred on Tuesday, December 4th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $97,635.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Scott Offer acquired 27,027 shares of Flex stock in a transaction that occurred on Tuesday, October 30th. The stock was acquired at an average price of $7.48 per share, with a total value of $202,161.96. The disclosure for this purchase can be found here. 0.88% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on FLEX shares. ValuEngine upgraded shares of Flex from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Argus lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Macquarie set a $9.00 price target on shares of Flex and gave the stock a “hold” rating in a research note on Monday, October 29th. Needham & Company LLC lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded shares of Flex from a “strong sell” rating to a “hold” rating in a research note on Monday, December 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Flex stock opened at $8.04 on Friday. Flex Ltd has a 1-year low of $6.74 and a 1-year high of $19.71. The company has a market capitalization of $4.22 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55. The company has a quick ratio of 0.69, a current ratio of 1.23 and a debt-to-equity ratio of 1.07.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Thursday, October 25th. The technology company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Flex had a net margin of 1.15% and a return on equity of 9.83%. The business had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.81 billion. Sell-side analysts forecast that Flex Ltd will post 0.81 EPS for the current year.

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About Flex

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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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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