D.A. Davidson & CO. Takes $460,000 Position in Flex Ltd. (NASDAQ:FLEX)

D.A. Davidson & CO. bought a new stake in Flex Ltd. (NASDAQ:FLEX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,749 shares of the technology company’s stock, valued at approximately $460,000.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares during the last quarter. Stephens Inc. AR boosted its position in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after purchasing an additional 361 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Flex by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after purchasing an additional 471 shares during the period. Finally, Huntington National Bank lifted its stake in shares of 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 last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FLEX shares. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Barclays boosted 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. Craig Hallum increased 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. Finally, KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $40.83.

Flex Stock Performance

NASDAQ:FLEX opened at $38.67 on Wednesday. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.49 and a beta of 1.10. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The stock has a fifty day moving average price of $36.19 and a 200-day moving average price of $32.82.

Insider Buying and Selling

In other news, 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Flex Company Profile

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.