Oddo BHF Asset Management Sas Invests $703,000 in Flex Ltd. (NASDAQ:FLEX)

Oddo BHF Asset Management Sas purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 21,023 shares of the technology company's stock, valued at approximately $703,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its position in shares of Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Raymond James Trust N.A. raised its position in Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company's stock valued at $599,000 after purchasing an additional 360 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Flex by 2.6% in the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company's stock worth $472,000 after acquiring an additional 361 shares during the last quarter. Huntington National Bank increased its stake in shares of Flex by 87.9% in the third 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. Finally, Wahed Invest LLC increased its position in shares of Flex by 7.4% during the third quarter. Wahed Invest LLC now owns 9,637 shares of the technology company's stock valued at $322,000 after buying an additional 667 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Price Performance

Shares of Flex stock traded up $0.21 during trading hours on Friday, reaching $38.38. 2,183,676 shares of the company's stock were exchanged, compared to its average volume of 4,345,582. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. 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 company has a market capitalization of $14.88 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The business has a fifty day moving average of $37.07 and a two-hundred day moving average of $33.18.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLEX. Barclays raised their price objective on shares of Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price target for the company. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $42.67.

Insiders Place Their Bets

In related news, Director Charles K. Stevens III sold 13,157 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 240,018 shares of the company's stock, valued at approximately $8,494,237.02. This trade 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 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.