The Manufacturers Life Insurance Company Sells 26,239 Shares of Flex Ltd. (NASDAQ:FLEX)

The Manufacturers Life Insurance Company decreased its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 51.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,669 shares of the technology company's stock after selling 26,239 shares during the period. The Manufacturers Life Insurance Company's holdings in Flex were worth $827,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the 3rd quarter worth approximately $29,000. Huntington National Bank lifted its holdings in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in Flex in the third quarter worth $39,000. Quarry LP bought a new position in Flex in the 2nd quarter valued at $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex during the 2nd quarter worth $46,000. Institutional investors own 94.30% of the company's stock.

Flex Price Performance

Shares of FLEX stock traded up $0.21 during trading hours on Friday, reaching $38.38. The stock had a trading volume of 2,181,566 shares, compared to its average volume of 4,342,256. The firm has a market capitalization of $14.88 billion, a PE ratio of 16.89, a PEG ratio of 2.43 and a beta of 1.10. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $42.47. The stock's fifty day simple moving average is $36.97 and its 200 day simple moving average is $33.15. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of Flex 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 transaction, the director now directly owns 55,713 shares of the company's stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the company's stock in a transaction on Monday, October 28th. The shares were 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 directly owns 240,018 shares of the company's stock, valued at $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 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.