Triangle Securities Wealth Management Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Triangle Securities Wealth Management purchased a new position in Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,929 shares of the technology company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also modified their holdings of FLEX. Harbor Capital Advisors Inc. bought a new stake in shares of Flex during the third quarter valued at approximately $29,000. Huntington National Bank increased its position in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Flex in the 3rd quarter valued at $39,000. Quarry LP acquired a new stake in Flex in the 2nd quarter valued at $43,000. Finally, First Horizon Advisors Inc. boosted its stake in Flex by 23.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FLEX has been the topic of several recent analyst reports. KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Craig Hallum boosted 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. Stifel Nicolaus boosted their price objective on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.67.

Flex Stock Up 0.8 %

FLEX stock opened at $42.72 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The stock has a market capitalization of $16.57 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.56 and a beta of 1.10. The business has a 50-day moving average of $39.19 and a 200-day moving average of $34.62. Flex Ltd. has a fifty-two week low of $22.02 and a fifty-two week high of $44.45.

Insider Activity at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 completion of the sale, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.