KBC Group NV Purchases 1,003 Shares of Flex Ltd. (NASDAQ:FLEX)

KBC Group NV lifted its holdings in Flex Ltd. (NASDAQ:FLEX) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,706 shares of the technology company’s stock after purchasing an additional 1,003 shares during the period. KBC Group NV’s holdings in Flex were worth $358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new stake in Flex during the third quarter valued at about $29,000. Kathleen S. Wright Associates Inc. purchased a new stake in Flex in the 3rd quarter worth approximately $39,000. Quarry LP purchased a new stake in Flex in the 2nd quarter worth approximately $43,000. American Capital Advisory LLC bought a new stake in Flex during the 2nd quarter worth approximately $46,000. Finally, Silicon Valley Capital Partners purchased a new position in Flex during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FLEX. JPMorgan Chase & Co. raised their price objective on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. Stifel Nicolaus boosted their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $40.83.

Insider Buying and Selling at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,185 shares of company stock worth $1,442,555 over the last 90 days. 0.82% of the stock is owned by insiders.

Flex Stock Up 0.7 %

NASDAQ FLEX opened at $37.33 on Wednesday. The stock has a 50 day moving average price of $34.29 and a 200-day moving average price of $31.99. Flex Ltd. has a one year low of $21.84 and a one year high of $40.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The company has a market capitalization of $14.48 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.37 and a beta of 1.08.

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.