Gateway Investment Advisers LLC Buys 20,461 Shares of Flex Ltd. (NASDAQ:FLEX)

Gateway Investment Advisers LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,860 shares of the technology company's stock after acquiring an additional 20,461 shares during the quarter. Gateway Investment Advisers LLC's holdings in Flex were worth $5,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Flex in the third quarter worth about $29,000. Huntington National Bank raised its holdings in 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 buying an additional 479 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Flex during the 3rd quarter worth about $39,000. Quarry LP acquired a new stake in Flex during the 2nd quarter worth about $43,000. Finally, First Horizon Advisors Inc. raised its holdings in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock worth $53,000 after buying an additional 305 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Up 0.8 %

Shares of NASDAQ FLEX traded up $0.33 during trading hours on Friday, hitting $42.72. The stock had a trading volume of 2,206,746 shares, compared to its average volume of 2,593,081. The company has a market capitalization 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's 50-day moving average price is $39.19 and its two-hundred day moving average price is $34.55. Flex Ltd. has a 52 week low of $22.02 and a 52 week high of $44.45. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a report on Thursday. Stifel Nicolaus boosted their price objective on Flex from $40.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. KeyCorp assumed coverage on Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective on the stock. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Finally, Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research note 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 an average rating of "Buy" and an average target price of $42.67.

Insider Activity at Flex

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 value of $284,110.92. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 55,713 shares of the company's stock, valued at $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

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.