BNP Paribas Financial Markets Purchases 475,376 Shares of Flex Ltd. (NASDAQ:FLEX)

BNP Paribas Financial Markets grew its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 2,600.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 493,659 shares of the technology company's stock after purchasing an additional 475,376 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of Flex worth $16,503,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FLEX. Price T Rowe Associates Inc. MD increased its holdings in shares of Flex by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,742 shares of the technology company's stock worth $1,824,000 after acquiring an additional 2,522 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Flex by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company's stock valued at $251,000 after purchasing an additional 471 shares during the period. Tidal Investments LLC bought a new stake in Flex in the 1st quarter valued at $821,000. Atria Investments Inc bought a new stake in Flex in the 1st quarter valued at $2,399,000. Finally, Cetera Investment Advisers boosted its stake in Flex by 79.5% in the 1st quarter. Cetera Investment Advisers now owns 126,202 shares of the technology company's stock valued at $3,611,000 after purchasing an additional 55,910 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 8,028 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company's stock, valued at approximately $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 Price Performance

Shares of NASDAQ:FLEX traded up $0.15 during trading on Friday, reaching $38.97. 1,576,991 shares of the company traded hands, compared to its average volume of 6,846,584. The company's 50 day moving average is $35.93 and its two-hundred day moving average is $32.66. The firm has a market capitalization of $15.11 billion, a PE ratio of 17.24, a PEG ratio of 2.48 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47.

Analysts Set New Price Targets

FLEX has been the subject of several recent research reports. KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price target for the company. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. Finally, Craig Hallum upped their target price on Flex from $39.00 to $45.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $40.83.

Flex Company Profile

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.