99,672 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 99,672 shares of the technology company’s stock, valued at approximately $3,332,000.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Flex by 1.8% in the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after purchasing an additional 361 shares in the last quarter. Huntington National Bank raised its stake in shares of 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 purchasing an additional 479 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. raised its stake in shares of Flex by 6.9% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company’s stock valued at $375,000 after purchasing an additional 725 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Down 1.0 %

NASDAQ FLEX opened at $39.10 on Friday. The firm has a market cap of $15.16 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.46 and a beta of 1.10. 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’s 50-day moving average is $36.44 and its 200-day moving average is $32.91. Flex Ltd. has a one year low of $21.84 and a one year high of $42.47.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. 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. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. Barclays increased their target price on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Flex has an average rating of “Buy” and a consensus target price of $40.83.

Insider Transactions at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated 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 owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by 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.