Ballentine Partners LLC Purchases Shares of 6,813 Flex Ltd. (NASDAQ:FLEX)

Ballentine Partners LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,813 shares of the technology company’s stock, valued at approximately $228,000.

Other large investors also recently modified their holdings of the company. Creative Planning raised its stake in shares of Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after buying an additional 839 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Flex by 441.6% during the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock worth $1,400,000 after buying an additional 38,711 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of 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 last quarter. Twin Tree Management LP raised its stake in shares of Flex by 29,912.0% during the first quarter. Twin Tree Management LP now owns 97,239 shares of the technology company’s stock worth $2,782,000 after buying an additional 96,915 shares during the last quarter. Finally, Valliance Asset Management Ltd bought a new stake in shares of Flex during the second quarter worth approximately $2,654,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLEX has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Barclays increased their price objective on shares of Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their target price on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Flex has a consensus rating of “Buy” and a consensus target price of $39.17.

Flex Stock Performance

Shares of FLEX opened at $34.67 on Wednesday. The firm has a 50-day moving average of $32.55 and a 200-day moving average of $31.03. Flex Ltd. has a one year low of $21.84 and a one year high of $35.84. The company has a market cap of $13.77 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75.

Insider Activity

In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares of the company’s stock, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated 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 sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,028 shares of company stock valued at $933,511 in the last quarter. Company insiders own 0.82% of the company’s stock.

About Flex

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.