UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 49,928 Shares of Flex Ltd. (NASDAQ:FLEX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,184,485 shares of the technology company’s stock after purchasing an additional 49,928 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.56% of Flex worth $73,027,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the 3rd quarter valued at $29,000. Huntington National Bank grew its stake in Flex by 87.9% in the third 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 during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of Flex in the third quarter worth about $39,000. Quarry LP bought a new position in shares of Flex during the 2nd quarter valued at about $43,000. Finally, American Capital Advisory LLC acquired a new position in shares of Flex in the 2nd quarter valued at approximately $46,000. Institutional investors own 94.30% of the company’s stock.

Insider Activity

In related news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’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 transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on FLEX shares. Barclays raised their target price on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. Craig Hallum lifted their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. 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 MarketBeat, Flex currently has a consensus rating of “Buy” and a consensus target price of $40.83.

Flex Stock Up 0.6 %

FLEX stock opened at $39.22 on Tuesday. The company has a market cap of $15.21 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 2.48 and a beta of 1.08. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $42.47. The business has a 50 day moving average price of $36.05 and a two-hundred day moving average price of $32.75. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64.

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.