Temasek Holdings Private Ltd Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Temasek Holdings Private Ltd purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 99,672 shares of the technology company's stock, valued at approximately $3,332,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company's stock worth $599,000 after buying an additional 360 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Flex by 2.6% in the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock worth $472,000 after buying an additional 361 shares in the last quarter. Huntington National Bank increased its holdings in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after acquiring an additional 479 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. raised its position in Flex by 6.9% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company's stock worth $375,000 after acquiring an additional 725 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Price Performance

Shares of FLEX stock traded down $0.19 during mid-day trading on Friday, hitting $38.91. 949,651 shares of the stock traded hands, compared to its average volume of 4,380,954. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $42.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The company's 50-day simple moving average is $36.44 and its 200-day simple moving average is $32.91. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Insiders Place Their Bets

In other news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares of the company's stock, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company's stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on FLEX shares. Craig Hallum raised their target price on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research report on Thursday, October 17th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Barclays lifted their price objective on Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, KeyCorp started coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price for the company. Six investment 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, the stock has an average rating of "Buy" and a consensus price target of $40.83.

Flex Company Profile

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.