Iridian Asset Management LLC CT Decreases Holdings in Flex Ltd. (NASDAQ:FLEX)

Iridian Asset Management LLC CT lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,225 shares of the technology company's stock after selling 51,931 shares during the period. Flex accounts for approximately 3.8% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 11th biggest position. Iridian Asset Management LLC CT owned about 0.13% of Flex worth $17,826,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Creative Planning boosted its position in shares of Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company's stock valued at $4,726,000 after acquiring an additional 839 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Flex by 441.6% in the 2nd quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company's stock valued at $1,400,000 after buying an additional 38,711 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Flex by 254.9% during the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company's stock worth $1,499,000 after buying an additional 36,465 shares during the last quarter. Twin Tree Management LP raised its position in shares of Flex by 29,912.0% during the 1st quarter. Twin Tree Management LP now owns 97,239 shares of the technology company's stock valued at $2,782,000 after buying an additional 96,915 shares during the period. Finally, Valliance Asset Management Ltd acquired a new position in Flex in the second quarter valued at approximately $2,654,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on FLEX. Barclays raised their target price on Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday. Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on shares of Flex from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 target price for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flex has an average rating of "Buy" and an average target price of $40.83.

Insider Activity at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the sale, the executive vice president now directly owns 158,094 shares of the company's stock, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction on Monday, October 28th. The shares were 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 $8,494,237.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,028 shares of company stock worth $933,511. Company insiders own 0.82% of the company's stock.

Flex Stock Down 3.1 %

FLEX stock traded down $1.11 during midday trading on Thursday, hitting $34.67. The company's stock had a trading volume of 3,120,482 shares, compared to its average volume of 4,165,452. The firm has a 50-day simple moving average of $32.69 and a 200-day simple moving average of $31.11. The firm has a market capitalization of $13.77 billion, a P/E ratio of 15.63, a PEG ratio of 2.01 and a beta of 1.09. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $36.98.

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.