Flex Ltd. (NASDAQ:FLEX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Flex Ltd. (NASDAQ:FLEX) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,329 shares of the technology company’s stock after selling 510 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Flex were worth $512,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of Flex by 113.8% during 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 purchased a new position in shares of Flex during the 2nd quarter worth $72,808,000. Westfield Capital Management Co. LP purchased a new position in shares of Flex during the 1st quarter worth $51,543,000. Point72 Asset Management L.P. raised its holdings in shares of Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after acquiring an additional 792,700 shares during the period. Finally, TCW Group Inc. raised its holdings 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 worth $50,479,000 after acquiring an additional 556,286 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

Shares of FLEX opened at $35.48 on Friday. The stock has a 50 day moving average price of $32.76 and a 200 day moving average price of $31.13. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.11 and a beta of 1.09. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $36.98.

Analyst Ratings Changes

Several analysts recently issued reports on FLEX shares. KeyCorp began coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. Craig Hallum boosted their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus boosted their price objective on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flex currently has a consensus rating of “Buy” and an average price target of $40.83.

Insider Activity at Flex

In other Flex news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 168,094 shares in the company, valued at approximately $5,377,327.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now owns 168,094 shares in the company, valued at $5,377,327.06. This represents 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. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,028 shares of company stock valued at $933,511 over the last three months. 0.82% of the stock is owned by corporate insiders.

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.