CWA Asset Management Group LLC Purchases Shares of 15,951 Flex Ltd. (NASDAQ:FLEX)

CWA Asset Management Group LLC acquired a new position in Flex Ltd. (NASDAQ:FLEX) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,951 shares of the technology company’s stock, valued at approximately $533,000.

Several other large investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in Flex in the third quarter worth about $29,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Flex during the 3rd quarter worth about $39,000. Quarry LP acquired a new stake in shares of Flex in the 2nd quarter worth approximately $43,000. American Capital Advisory LLC bought a new position in shares of Flex in the second quarter valued at approximately $46,000. Finally, Silicon Valley Capital Partners acquired a new position in shares of Flex during the third quarter valued at approximately $74,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Down 2.6 %

Shares of FLEX opened at $39.04 on Tuesday. 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 Ltd. has a 1-year low of $21.84 and a 1-year high of $40.30. The stock has a market capitalization of $15.14 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.55 and a beta of 1.08. The business’s 50-day moving average price is $33.39 and its 200 day moving average price is $31.59.

Insider Activity

In related news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on 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 owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,185 shares of company stock worth $1,442,555 over the last 90 days. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, Barclays boosted their target price on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.83.

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.