CWA Asset Management Group LLC bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,951 shares of the technology company's stock, valued at approximately $533,000.
Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Flex in the 1st quarter worth about $633,000. SG Americas Securities LLC raised its holdings in Flex by 24.6% during the first quarter. SG Americas Securities LLC now owns 8,766 shares of the technology company's stock worth $251,000 after purchasing an additional 1,729 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Flex by 22.7% in the first quarter. Oppenheimer & Co. Inc. now owns 18,087 shares of the technology company's stock valued at $517,000 after purchasing an additional 3,342 shares during the period. Sei Investments Co. grew its position in Flex by 10.3% in the first quarter. Sei Investments Co. now owns 1,367,356 shares of the technology company's stock valued at $39,120,000 after acquiring an additional 128,003 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Flex in the first quarter worth $149,000. Institutional investors own 94.30% of the company's stock.
Wall Street Analysts Forecast Growth
FLEX has been the subject of several analyst reports. Stifel Nicolaus lifted their price objective on shares of Flex from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a report on Thursday, October 17th. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of Flex from $34.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, July 23rd. Finally, Barclays lifted their price objective on Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $40.83.
Get Our Latest Analysis on FLEX
Flex Stock Performance
Shares of NASDAQ FLEX traded down $1.08 during trading hours on Tuesday, reaching $37.96. The stock had a trading volume of 2,061,520 shares, compared to its average volume of 4,123,449. The business's fifty day moving average is $33.39 and its two-hundred day moving average is $31.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.55 and a beta of 1.08. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $40.30.
Insider Buying and Selling
In other news, EVP David Scott Offer sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP David Scott Offer sold 10,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares of the company's stock, valued at $5,377,327.06. The trade was a 0.00 % 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, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares of the company's stock, valued at $8,494,237.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,185 shares of company stock valued at $1,442,555. Company insiders own 0.82% of the company's stock.
About Flex
(
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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