Flex Ltd. (NASDAQ:FLEX) Stock Holdings Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,254 shares of the technology company’s stock after purchasing an additional 3,627 shares during the period. Advisors Asset Management Inc.’s holdings in Flex were worth $1,713,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FLEX. Harbor Capital Advisors Inc. acquired a new stake in Flex during the third quarter valued at approximately $29,000. Huntington National Bank raised 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 in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Flex during the third quarter worth $39,000. Quarry LP acquired a new position in Flex in the second quarter worth $43,000. Finally, American Capital Advisory LLC acquired a new position in Flex in the second quarter worth $46,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $41.30 on Monday. The firm’s 50 day moving average is $35.12 and its two-hundred day moving average is $32.28. The firm has a market capitalization of $16.02 billion, a P/E ratio of 18.27, a PEG ratio of 2.58 and a beta of 1.08. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $41.52.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.