Fifth Third Wealth Advisors LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,372 shares of the technology company's stock, valued at approximately $321,000.
A number of other institutional investors and hedge funds have also modified their holdings of FLEX. Janus Henderson Group PLC raised its position 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. Massachusetts Financial Services Co. MA raised its position in shares of 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock valued at $202,152,000 after acquiring an additional 296,505 shares during the period. Geode Capital Management LLC boosted its position in shares of Flex by 619.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock valued at $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Flex by 19.7% in the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company's stock worth $122,503,000 after purchasing an additional 603,208 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.
Flex Price Performance
NASDAQ FLEX traded up $0.33 on Friday, hitting $42.72. 2,206,746 shares of the company were exchanged, compared to its average volume of 2,593,081. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The company has a market cap of $16.57 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.56 and a beta of 1.10. The firm has a 50 day moving average of $39.19 and a two-hundred day moving average of $34.55. Flex Ltd. has a 1-year low of $22.02 and a 1-year high of $44.45.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on FLEX shares. Barclays increased 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. The Goldman Sachs Group set a $39.00 price target on Flex in a report on Thursday, October 17th. Stifel Nicolaus upped their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $42.67.
Get Our Latest Report on Flex
Insider Buying and Selling
In other news, Director Charles K. Stevens III sold 13,157 shares of the business'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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 3.24 % 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.
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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