Ritholtz Wealth Management Raises Stock Position in Flex Ltd. (NASDAQ:FLEX)

Ritholtz Wealth Management grew its holdings in Flex Ltd. (NASDAQ:FLEXFree Report) by 80.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,854 shares of the technology company’s stock after buying an additional 4,842 shares during the period. Ritholtz Wealth Management’s holdings in Flex were worth $417,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FLEX. Creative Planning grew its position in shares of Flex by 0.6% in the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after purchasing an additional 839 shares during the last quarter. Hsbc Holdings PLC grew its stake in Flex by 254.9% during the second quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock worth $1,499,000 after buying an additional 36,465 shares during the period. Algert Global LLC increased its holdings in Flex by 14.6% in the 2nd quarter. Algert Global LLC now owns 250,455 shares of the technology company’s stock valued at $7,386,000 after purchasing an additional 31,876 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Flex by 153.6% in the third quarter. Gateway Investment Advisers LLC now owns 111,399 shares of the technology company’s stock valued at $3,724,000 after purchasing an additional 67,468 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Flex by 113.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 486,348 shares of the technology company’s stock worth $16,259,000 after buying an additional 257,975 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on FLEX. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Barclays upped 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. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus upped their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $42.67.

Check Out Our Latest Stock Analysis on Flex

Flex Stock Up 3.6 %

NASDAQ:FLEX opened at $44.27 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Flex Ltd. has a one year low of $22.57 and a one year high of $44.66. The stock has a 50-day simple moving average of $39.27 and a 200 day simple moving average of $34.71.

Flex Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEXFree Report).

Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.