TCW Group Inc. Has $60.55 Million Stake in Flex Ltd. (NASDAQ:FLEX)

TCW Group Inc. grew its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,811,158 shares of the technology company's stock after purchasing an additional 99,409 shares during the quarter. TCW Group Inc. owned about 0.47% of Flex worth $60,547,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in Flex by 619.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after purchasing an additional 3,844,935 shares during the last quarter. Merewether Investment Management LP acquired a new position in Flex in the 2nd quarter valued at approximately $72,808,000. Charles Schwab Investment Management Inc. lifted its position in shares of Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock worth $88,247,000 after acquiring an additional 2,170,262 shares during the period. Point72 Asset Management L.P. increased its position in shares of Flex by 1,242.5% during the second quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company's stock valued at $21,495,000 after purchasing an additional 792,700 shares during the period. Finally, Simcoe Capital Management LLC bought a new position in Flex in the third quarter worth $22,075,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Price Performance

Shares of FLEX stock traded up $0.26 during trading hours on Wednesday, hitting $38.19. 2,493,201 shares of the company's stock were exchanged, compared to its average volume of 4,366,550. The stock's 50-day moving average is $36.74 and its 200-day moving average is $33.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Insiders Place Their Bets

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business's 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 sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FLEX. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price for the company. Barclays increased their price objective on Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $42.67.

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.