Allspring Global Investments Holdings LLC cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,329 shares of the technology company’s stock after selling 510 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Flex were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of Flex in the 3rd quarter worth about $39,000. Quarry LP purchased a new stake in shares of Flex during the 2nd quarter valued at about $43,000. American Capital Advisory LLC purchased a new stake in shares of Flex during the 2nd quarter valued at about $46,000. J.Safra Asset Management Corp raised its holdings in shares of Flex by 623.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after buying an additional 2,538 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Flex during the 2nd quarter valued at about $125,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.
Flex Price Performance
Shares of FLEX opened at $35.48 on Friday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 2.11 and a beta of 1.09. The stock has a 50 day moving average of $32.76 and a 200-day moving average of $31.13. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $36.98.
Insider Transactions at Flex
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Stifel Nicolaus raised their target price on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Craig Hallum raised their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Finally, Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $40.83.
Get Our Latest Stock Analysis on FLEX
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.
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