Pathstone Holdings LLC Increases Holdings in Flex Ltd. (NASDAQ:FLEX)

Pathstone Holdings LLC boosted its stake in Flex Ltd. (NASDAQ:FLEX) by 5.5% in the 3rd quarter, Holdings Channel reports. The firm owned 60,375 shares of the technology company’s stock after acquiring an additional 3,121 shares during the quarter. Pathstone Holdings LLC’s holdings in Flex were worth $2,018,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners boosted its position in shares of Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after acquiring an additional 10,201,162 shares during the period. Merewether Investment Management LP bought a new position in shares of Flex in the second quarter worth $72,808,000. Point72 Asset Management L.P. raised its position in shares of Flex by 1,242.5% in the second quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after buying an additional 792,700 shares in the last quarter. TCW Group Inc. boosted its stake in Flex by 48.1% during the second 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 period. Finally, Marshall Wace LLP grew its position in Flex by 41.1% during the second quarter. Marshall Wace LLP now owns 1,136,410 shares of the technology company’s stock worth $33,513,000 after buying an additional 331,027 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction that occurred 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 sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

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

Flex Stock Down 2.8 %

Shares of Flex stock opened at $39.92 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $42.47. The company’s 50 day moving average price is $35.34 and its 200-day moving average price is $32.39. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.63 and a beta of 1.08.

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.