Charles Schwab Investment Management Inc. Increases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Charles Schwab Investment Management Inc. raised its position in Flex Ltd. (NASDAQ:FLEX) by 462.2% in the 3rd quarter, Holdings Channel reports. The fund owned 2,639,769 shares of the technology company’s stock after purchasing an additional 2,170,262 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Flex were worth $88,247,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Boston Partners increased its position in shares of Flex by 113.8% during the first 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 last quarter. Merewether Investment Management LP purchased a new stake in Flex during the 2nd quarter worth approximately $72,808,000. Point72 Asset Management L.P. raised its position in shares of Flex by 1,242.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock valued at $21,495,000 after purchasing an additional 792,700 shares in the last quarter. TCW Group Inc. boosted its stake 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 valued at $50,479,000 after buying an additional 556,286 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of 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.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $40.83.

Flex Stock Down 2.8 %

NASDAQ:FLEX opened at $38.82 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $35.52 and a 200-day moving average of $32.47. The firm has a market capitalization of $15.05 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $42.47.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 8,028 shares of the 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 completion of the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction on Wednesday, November 6th. The shares were 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 $2,155,535.97. The trade was a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company 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.