Flex Target of Unusually Large Options Trading (NASDAQ:FLEX)

Flex Ltd. (NASDAQ:FLEXGet Free Report) was the target of some unusual options trading on Monday. Stock traders purchased 2,443 put options on the company. This is an increase of 71% compared to the typical volume of 1,432 put options.

Insider Activity at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the third quarter worth $29,000. 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. R Squared Ltd bought a new position in Flex during the fourth quarter worth about $35,000. Kathleen S. Wright Associates Inc. acquired a new position in Flex in the third quarter valued at about $39,000. Finally, Quarry LP bought a new stake in shares of Flex in the second quarter worth about $43,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Flex stock opened at $38.85 on Tuesday. The firm has a market capitalization of $15.07 billion, a P/E ratio of 17.19, a PEG ratio of 2.81 and a beta of 1.10. The business has a 50-day moving average of $39.79 and a 200-day moving average of $35.12. 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 has a 1 year low of $22.57 and a 1 year high of $45.10.

Analyst Ratings Changes

Several equities research analysts have recently commented on FLEX shares. Stifel Nicolaus lifted their target price on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Craig Hallum lifted their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp started coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday. Finally, 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 note on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $42.67.

Check Out Our Latest Stock Report on FLEX

About Flex

(Get 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.

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