State Street Corp raised its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 19.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,664,463 shares of the technology company's stock after purchasing an additional 603,208 shares during the period. State Street Corp owned approximately 0.94% of Flex worth $122,503,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in shares of Flex by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company's stock valued at $898,389,000 after acquiring an additional 344,773 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Flex by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company's stock worth $235,289,000 after purchasing an additional 127,688 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Flex by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company's stock valued at $237,216,000 after purchasing an additional 31,214 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Flex by 462.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock worth $88,247,000 after purchasing an additional 2,170,262 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of Flex in the second quarter valued at approximately $72,808,000. 94.30% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
FLEX has been the topic of a number of analyst reports. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Barclays increased their target price on shares of Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price target on shares of Flex from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. KeyCorp initiated coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price objective for the company. Finally, StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $42.67.
Check Out Our Latest Analysis on Flex
Flex Stock Up 0.6 %
NASDAQ:FLEX traded up $0.21 during trading hours on Friday, hitting $38.38. 2,183,676 shares of the company traded hands, compared to its average volume of 4,345,582. The company has a market cap of $14.88 billion, a PE ratio of 16.98, a PEG ratio of 2.43 and a beta of 1.10. The firm's 50-day simple moving average is $37.07 and its 200-day simple moving average is $33.18. 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 one year low of $21.84 and a one year high of $42.47.
Insider Buying and Selling at Flex
In other Flex 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 stock was 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 $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.
Flex Profile
(
Free Report)
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.
Recommended Stories
![Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=FLEX)
Before you consider Flex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Flex wasn't on the list.
While Flex currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.