Barclays PLC lifted its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 42.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 774,856 shares of the technology company's stock after buying an additional 231,572 shares during the period. Barclays PLC owned 0.20% of Flex worth $25,902,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of FLEX. Janus Henderson Group PLC lifted its stake in shares of Flex by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock worth $898,389,000 after purchasing an additional 344,773 shares during the period. Dimensional Fund Advisors LP lifted its position in Flex by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company's stock worth $235,289,000 after buying an additional 127,688 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock worth $237,216,000 after buying an additional 31,214 shares during the last quarter. State Street Corp grew its holdings in Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock valued at $122,503,000 after buying an additional 603,208 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Flex by 462.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock valued at $88,247,000 after acquiring an additional 2,170,262 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.
Flex Stock Up 0.6 %
Shares of NASDAQ:FLEX traded up $0.21 during mid-day trading on Friday, hitting $38.38. 2,183,676 shares of the company traded hands, compared to its average volume of 4,345,582. The firm's 50 day simple moving average is $37.07 and its 200 day simple moving average is $33.18. The firm has a market cap of $14.88 billion, a P/E ratio of 16.98, a PEG ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $42.47.
Insider Transactions at Flex
In related news, insider Kwang Hooi Tan sold 8,028 shares of the company's stock in a transaction 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 sale, the insider now directly owns 240,018 shares of the company's stock, valued at $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now directly owns 55,713 shares of the company's stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on FLEX. 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. Stifel Nicolaus boosted their price objective on shares of Flex from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Finally, KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $42.67.
View Our Latest Stock Analysis on FLEX
Flex Profile
(
Free Report)
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.
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