Flex Ltd. (NASDAQ:FLEX) Shares Acquired by Freedom Investment Management Inc.

Freedom Investment Management Inc. grew its holdings in Flex Ltd. (NASDAQ:FLEX) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,919 shares of the technology company’s stock after purchasing an additional 1,046 shares during the period. Freedom Investment Management Inc.’s holdings in Flex were worth $699,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. increased 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 worth $53,000 after purchasing an additional 305 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after acquiring an additional 360 shares during the period. Stephens Inc. AR grew its holdings in Flex by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after acquiring an additional 361 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Flex by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after buying an additional 471 shares during the period. Finally, Huntington National Bank raised its stake in Flex by 87.9% during the 3rd 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 period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Flex Price Performance

FLEX stock opened at $38.82 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. The company’s 50-day moving average is $35.80 and its 200-day moving average is $32.56. The stock 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.

Insider Buying and Selling 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 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 represents a 19.10 % decrease in their position. The transaction was disclosed in a legal 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 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 sale, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Company 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.