In its most recent filing with the Securities and Exchange Commission (SEC), Dimensional Fund Advisors LP announced that it had raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 0.6% during the first quarter. The firm now owns 11,086,505 shares of the technology company’s stock, acquiring an additional 65,527 shares in the process. This means that Dimensional Fund Advisors LP owns approximately 2.46% of Flex, which amounts to a total worth of $255,080,000.
Flex recently released its quarterly earnings data on July 26th. The technology company reported earnings per share of $0.50 for the quarter, surpassing the consensus estimate of $0.41 by $0.09. Furthermore, Flex demonstrated a return on equity of 17.98% and a net margin of 2.60%. The firm also generated revenue amounting to $7.34 billion during this period, exceeding the consensus estimate of $7.24 billion.
Analysts anticipate that Flex will post an EPS (earnings per share) figure of 2.09 for the current year based on these results.
Several equities analysts have provided their commentary on FLEX shares as well. StockNews.com initiated coverage on Flex in a research note issued on August 17th, where they designated a “hold” rating for the company. Credit Suisse Group reaffirmed an “outperform” rating and established a price target of $34.00 for Flex in a research report published on July 24th. Lastly, Bank of America increased their price objective for Flex from $28.00 to $31.00 in a report released on July 9th.
These developments shed light on the growing interest and confidence among investors and analysts towards Flex Ltd., indicating positive prospects for the company moving forward
Institutional Investors Increase Stake in Flex Ltd. as Technology Company Gains Interest
In recent months, there have been significant changes in the positions held by various institutional investors in Flex Ltd., a technology company. FMR LLC, for instance, experienced a notable increase of 49.2% in its stake during the first quarter, adding an additional 10,793,420 shares to its portfolio. This translates to FMR LLC now having ownership of 32,727,697 shares valued at $753,064,000.
Similarly, Invesco Ltd. saw its position in Flex grow by 119.3% during the same quarter. The investment firm acquired an additional 5,741,044 shares and now owns a total of 10,551,440 shares worth $195,729,000.
Norges Bank also entered the scene and obtained a new position in Flex back in the fourth quarter of last year with an investment worth about $103,178,000.
Additionally, LSV Asset Management raised its holdings in Flex significantly by 281.7% during the first quarter. The firm added 3,198,600 shares to its portfolio and now holds a total of 4,334,130 shares valued at $99,728.