Dynamic Technology Lab Private Ltd trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 63.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,219 shares of the technology company's stock after selling 105,705 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Flex were worth $2,046,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. grew 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 valued at $53,000 after acquiring an additional 305 shares during the period. Raymond James Trust N.A. increased its position in Flex by 1.8% in the second 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 raised its stake in shares of Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock valued at $472,000 after buying an additional 361 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company's stock valued at $251,000 after buying an additional 471 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares during the period. 94.30% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on FLEX. Barclays upped their price objective on shares of Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price on the stock. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $40.83.
View Our Latest Analysis on Flex
Flex Price Performance
NASDAQ:FLEX traded down $1.15 during trading hours on Tuesday, hitting $39.92. 5,646,700 shares of the company's stock traded hands, compared to its average volume of 4,416,549. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47. The business's fifty day simple moving average is $35.34 and its two-hundred day simple moving average is $32.39. 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 firm has a market cap of $15.48 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.63 and a beta of 1.08.
Insider Activity
In related news, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction on 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 directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm's stock in a transaction dated 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 owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Corporate 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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