Charles K. Stevens III Sells 13,157 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Flex Stock Performance

Shares of FLEX traded up $0.09 during mid-day trading on Friday, hitting $40.09. 2,836,037 shares of the company’s stock were exchanged, compared to its average volume of 4,138,812. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $40.29. The firm has a market capitalization of $15.55 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.08 and a beta of 1.08. The business’s 50 day moving average is $33.39 and its two-hundred day moving average is $31.55. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Flex

A number of hedge funds and other institutional investors have recently modified their holdings of FLEX. Boston Partners grew its stake in Flex by 113.8% in the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after acquiring an additional 10,201,162 shares during the period. Merewether Investment Management LP bought a new stake in shares of Flex in the 2nd quarter worth about $72,808,000. Westfield Capital Management Co. LP bought a new stake in shares of Flex in the 1st quarter worth about $51,543,000. Point72 Asset Management L.P. increased its position in shares of Flex by 1,242.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after purchasing an additional 792,700 shares during the last quarter. Finally, TCW Group Inc. grew its position in shares of Flex by 48.1% during the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock valued at $50,479,000 after buying an additional 556,286 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Stifel Nicolaus boosted their price objective on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays lifted their price target on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Craig Hallum boosted their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $40.83.

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.