Flex Ltd. (NASDAQ:FLEX) Short Interest Update

Flex Ltd. (NASDAQ:FLEX - Get Free Report) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 9,590,000 shares, a decrease of 18.0% from the October 15th total of 11,700,000 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 3,350,000 shares, the short-interest ratio is currently 2.9 days.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of Flex 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 transaction, the insider now owns 240,018 shares of the company's stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of the 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 completion of the sale, the executive vice president now directly owns 168,094 shares in the company, valued at approximately $5,377,327.06. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,185 shares of company stock valued at $1,442,555. Corporate insiders own 0.82% of the company's stock.

Institutional Trading of Flex

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in shares of Flex in the 3rd quarter valued at $29,000. Huntington National Bank raised its position in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after purchasing an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex in the third quarter worth about $39,000. Quarry LP acquired a new stake in shares of Flex in the second quarter valued at about $43,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Flex during the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on FLEX shares. JPMorgan Chase & Co. increased their price target on shares of Flex from $34.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, July 23rd. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective on the stock. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Stifel Nicolaus boosted their price objective on shares of Flex from $32.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Finally, Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $40.83.

Flex Trading Down 1.2 %

Shares of NASDAQ FLEX traded down $0.44 during trading on Friday, hitting $37.20. 2,385,838 shares of the company traded hands, compared to its average volume of 2,799,888. 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 capitalization of $14.43 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.37 and a beta of 1.08. The company has a 50-day moving average price of $34.12 and a 200-day moving average price of $31.89. Flex has a 1 year low of $21.84 and a 1 year high of $40.30.

About Flex

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.