Camden National Bank Invests $244,000 in Flex Ltd. (NASDAQ:FLEX)

Camden National Bank bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,304 shares of the technology company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the 3rd quarter worth approximately $29,000. Huntington National Bank grew its position in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Flex in the third quarter valued at $39,000. Quarry LP acquired a new stake in shares of Flex during the 2nd quarter valued at $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex during the 2nd quarter worth $46,000. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 1.9 %

Flex stock opened at $41.30 on Friday. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $41.52. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock has a market cap of $16.02 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.58 and a beta of 1.08. The company’s fifty day simple moving average is $35.12 and its 200-day simple moving average is $32.26.

Wall Street Analysts Forecast Growth

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

Insider Activity at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction 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 approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,185 shares of company stock valued at $1,122,655. Insiders own 0.82% of the company’s stock.

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.