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UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 49,928 Shares of Flex Ltd. (NASDAQ:FLEX)

Flex logo with Computer and Technology background

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,184,485 shares of the technology company's stock after buying an additional 49,928 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.56% of Flex worth $73,027,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FLEX. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Flex by 11.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,123 shares of the technology company's stock worth $3,414,000 after purchasing an additional 10,527 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in Flex in the 3rd quarter valued at $537,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Flex in the 3rd quarter valued at about $7,254,000. Bridgewater Associates LP raised its stake in shares of Flex by 311.8% in the 3rd quarter. Bridgewater Associates LP now owns 375,452 shares of the technology company's stock valued at $12,551,000 after purchasing an additional 284,283 shares during the period. Finally, Freedom Investment Management Inc. grew its holdings in shares of Flex by 5.3% during the third quarter. Freedom Investment Management Inc. now owns 20,919 shares of the technology company's stock worth $699,000 after buying an additional 1,046 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Trading Down 1.4 %

NASDAQ FLEX traded down $0.55 during trading hours on Tuesday, reaching $38.67. The company's stock had a trading volume of 3,859,510 shares, compared to its average volume of 4,396,422. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The stock has a market cap of $15.00 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.49 and a beta of 1.10. The firm has a fifty day simple moving average of $36.05 and a 200-day simple moving average of $32.75.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FLEX shares. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price on the stock. Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flex currently has an average rating of "Buy" and a consensus price target of $40.83.

Get Our Latest Analysis on Flex

Insider Transactions at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares of the company's stock, valued at $2,155,535.97. The trade was a 19.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the business'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 sale, the insider now 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 corporate 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.

See Also

Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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