KBC Group NV Grows Position in Flex Ltd. (NASDAQ:FLEX)

KBC Group NV boosted its position in Flex Ltd. (NASDAQ:FLEX) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,706 shares of the technology company’s stock after purchasing an additional 1,003 shares during the period. KBC Group NV’s holdings in Flex were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Flex in the third quarter worth approximately $29,000. Kathleen S. Wright Associates Inc. bought a new position in Flex in the 3rd quarter valued at $39,000. Quarry LP purchased a new stake in Flex in the second quarter worth $43,000. American Capital Advisory LLC bought a new stake in shares of Flex during the second quarter worth $46,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Flex in the third quarter worth about $74,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

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 firm’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 completion of the sale, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,185 shares of company stock worth $1,442,555 in the last three months. 0.82% of the stock is owned by insiders.

Flex Stock Up 0.7 %

Shares of NASDAQ FLEX opened at $37.33 on Wednesday. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $40.30. The stock’s fifty day simple moving average is $34.29 and its two-hundred day simple moving average is $31.99. The stock has a market capitalization of $14.48 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FLEX shares. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Craig Hallum boosted their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Finally, Barclays raised their price target on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.