D.A. Davidson & CO. bought a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,749 shares of the technology company's stock, valued at approximately $460,000.
Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Flex by 1.6% during the 2nd 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 last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Flex by 0.4% during 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock worth $88,247,000 after purchasing an additional 2,170,262 shares during the last quarter. Merewether Investment Management LP acquired a new position in Flex during the 2nd quarter valued at approximately $72,808,000. Finally, Brandes Investment Partners LP boosted its position in Flex by 8.3% during the 2nd quarter. Brandes Investment Partners LP now owns 2,055,170 shares of the technology company's stock valued at $60,592,000 after purchasing an additional 157,516 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on FLEX. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective for the company. Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Finally, Craig Hallum boosted their target price on Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $40.83.
Check Out Our Latest Analysis on Flex
Flex Stock Performance
Flex stock traded up $0.82 during trading hours on Wednesday, hitting $39.49. The stock had a trading volume of 4,675,715 shares, compared to its average volume of 4,397,616. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $36.34 and a two-hundred day moving average of $32.87. The company has a market cap of $15.31 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.49 and a beta of 1.10.
Insider Transactions at Flex
In other Flex news, 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 sale, the insider now owns 240,018 shares of the company's stock, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares of the company's stock, valued at $2,155,535.97. The trade was a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.
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.
See Also
Before you consider Flex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Flex wasn't on the list.
While Flex currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
