6,670 Shares in Flex Ltd. (NASDAQ:FLEX) Purchased by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,670 shares of the technology company’s stock, valued at approximately $256,000.

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

Flex Trading Up 0.4 %

FLEX opened at $44.46 on Thursday. The company has a market cap of $17.24 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.80 and a beta of 1.10. The company has a fifty day moving average price of $39.52 and a two-hundred day moving average price of $34.88. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 1-year low of $22.57 and a 1-year high of $45.10.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. Barclays boosted their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Thursday, January 16th. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $42.67.

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were 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 $8,494,237.02. This represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

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.