Flex (NASDAQ:FLEX) Reaches New 52-Week High at $20.50

Shares of Flex Ltd. (NASDAQ:FLEXGet Rating) reached a new 52-week high during trading on Monday . The company traded as high as $20.50 and last traded at $20.05, with a volume of 12941 shares. The stock had previously closed at $20.23.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Flex in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Credit Suisse Group assumed coverage on shares of Flex in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $24.00 price target for the company.

Flex Trading Up 3.3 %

The stock has a market capitalization of $9.40 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company has a current ratio of 1.29, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average price is $18.37 and its two-hundred day moving average price is $17.14.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 3,744 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $20.03, for a total value of $74,992.32. Following the completion of the sale, the insider now directly owns 139,361 shares in the company, valued at approximately $2,791,400.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Michael P. Hartung sold 3,744 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $20.03, for a total transaction of $74,992.32. Following the completion of the sale, the insider now directly owns 139,361 shares in the company, valued at approximately $2,791,400.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 120,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $19.19, for a total transaction of $2,302,800.00. Following the sale, the executive vice president now owns 262,164 shares of the company’s stock, valued at $5,030,927.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,498 shares of company stock worth $4,890,749. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in Flex by 0.4% in the 3rd quarter. Creative Planning now owns 152,706 shares of the technology company’s stock worth $2,544,000 after purchasing an additional 536 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Flex by 3.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,753 shares of the technology company’s stock worth $245,000 after purchasing an additional 556 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in Flex by 1.2% in the 3rd quarter. SummerHaven Investment Management LLC now owns 52,832 shares of the technology company’s stock worth $880,000 after purchasing an additional 607 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Flex by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 10,020 shares of the technology company’s stock worth $167,000 after buying an additional 620 shares during the period. Finally, MML Investors Services LLC grew its position in shares of Flex by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 44,823 shares of the technology company’s stock worth $747,000 after buying an additional 630 shares during the period. 95.01% of the stock is currently owned by institutional investors.

Flex Company Profile

(Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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