XTX Topco Ltd Decreases Stake in Flex Ltd. (NASDAQ:FLEX)

XTX Topco Ltd decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 85.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,742 shares of the technology company's stock after selling 46,342 shares during the period. XTX Topco Ltd's holdings in Flex were worth $259,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 240,018 shares of the company's stock, valued at $8,494,237.02. This represents a 3.24 % decrease in their position. 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 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 completion of 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 disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FLEX has been the topic of several research reports. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 target price on the stock. Craig Hallum raised their target price on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price target on shares of Flex from $40.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Finally, Barclays upped their target price on Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research note 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 stock presently has a consensus rating of "Buy" and an average price target of $42.67.

Flex Trading Down 0.7 %

Shares of NASDAQ:FLEX traded down $0.28 during trading on Thursday, reaching $37.65. The stock had a trading volume of 5,944,995 shares, compared to its average volume of 4,340,823. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The business has a fifty day moving average price of $37.31 and a 200-day moving average price of $33.28. The stock has a market cap of $14.60 billion, a P/E ratio of 16.66, a PEG ratio of 2.43 and a beta of 1.10. 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 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.