Flex Ltd. (NASDAQ:FLEX) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Flex Ltd. (NASDAQ:FLEX) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,047,021 shares of the technology company’s stock after purchasing an additional 296,505 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.56% of Flex worth $202,152,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC increased its position in Flex by 1.3% during the third quarter. Janus Henderson Group PLC now owns 26,874,144 shares of the technology company’s stock worth $898,389,000 after buying an additional 344,773 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock valued at $235,289,000 after purchasing an additional 127,688 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Flex by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after acquiring an additional 31,214 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Flex by 19.7% during the 3rd quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock valued at $122,503,000 after buying an additional 603,208 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of research analyst reports. Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. Stifel Nicolaus increased their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Finally, StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.67.

Insiders Place Their Bets

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 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. 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 is available through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % 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 Trading Down 1.3 %

Shares of FLEX stock opened at $38.63 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $37.97 and a 200 day simple moving average of $33.64. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The stock has a market capitalization of $14.98 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.43 and a beta of 1.10.

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.