Harvest Fund Management Co. Ltd Raises Stake in Flex Ltd. (NASDAQ:FLEX)

Harvest Fund Management Co. Ltd raised its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 55.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,612 shares of the technology company’s stock after buying an additional 5,924 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Flex were worth $555,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after buying an additional 360 shares during the period. Stephens Inc. AR grew its position in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after buying an additional 361 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Flex by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after acquiring an additional 471 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Flex by 87.9% in 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 in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on FLEX shares. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays raised their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.83.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $39.92 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.48 billion, a PE ratio of 17.66, a PEG ratio of 2.63 and a beta of 1.08. The company’s fifty day moving average is $35.34 and its 200 day moving average is $32.39. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47.

Insider Transactions at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Flex 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.