Thrivent Financial for Lutherans Lowers Stake in Flex Ltd. (NASDAQ:FLEX)

Thrivent Financial for Lutherans lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 65.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,705 shares of the technology company’s stock after selling 277,530 shares during the period. Thrivent Financial for Lutherans’ holdings in Flex were worth $4,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FLEX. Creative Planning raised its stake in shares of Flex by 0.6% during the 3rd 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 period. SG Americas Securities LLC increased its stake in Flex by 441.6% during the 2nd 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 in the last quarter. Hsbc Holdings PLC lifted its position in shares of Flex by 254.9% in the second quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after acquiring an additional 36,465 shares in the last quarter. Valliance Asset Management Ltd acquired a new stake in shares of Flex in the second quarter worth approximately $2,654,000. Finally, Algert Global LLC raised its stake 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 during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $41.30 on Friday. The stock has a fifty day simple moving average of $35.12 and a 200-day simple moving average of $32.26. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market cap of $16.02 billion, a PE ratio of 18.27, a P/E/G ratio of 2.58 and a beta of 1.08. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $41.52.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction 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 approximately $5,209,197.30. This trade represents a 5.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the business’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 directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,185 shares of company stock valued at $1,122,655 over the last 90 days. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Barclays boosted their target price on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Craig Hallum increased 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. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a report on Thursday, October 17th. Six investment 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.com, the stock has an average rating of “Buy” and a consensus target price 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.