Flex Ltd. (NASDAQ:FLEX) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in Flex Ltd. (NASDAQ:FLEX) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,037 shares of the technology company’s stock after purchasing an additional 10,560 shares during the period. HighTower Advisors LLC’s holdings in Flex were worth $4,045,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FLEX. Dimensional Fund Advisors LP increased its stake in shares of Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after acquiring an additional 127,688 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock worth $237,216,000 after purchasing an additional 31,214 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Flex by 462.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock worth $88,247,000 after buying an additional 2,170,262 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of Flex during the second quarter worth approximately $72,808,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Flex by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,184,485 shares of the technology company’s stock valued at $73,027,000 after purchasing an additional 49,928 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the business’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 completion of the transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated 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 approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Stock Up 0.7 %

Shares of Flex stock opened at $38.19 on Thursday. 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 company has a 50-day moving average of $36.85 and a 200 day moving average of $33.12. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.46 and a beta of 1.10. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47.

Analyst Ratings Changes

A number of equities analysts have issued reports on FLEX shares. Stifel Nicolaus raised their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.67.

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.