Flex Ltd. (NASDAQ:FLEX) Stock Position Lifted by Huntington National Bank

Huntington National Bank lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 87.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,024 shares of the technology company’s stock after purchasing an additional 479 shares during the quarter. Huntington National Bank’s holdings in Flex were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FLEX. Boston Partners raised its position in shares of Flex by 113.8% during the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after buying an additional 10,201,162 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Flex by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after purchasing an additional 127,688 shares in the last quarter. Vanguard Group Inc. lifted its position in Flex by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after purchasing an additional 141,580 shares during the period. Merewether Investment Management LP acquired a new position in shares of Flex during the 2nd quarter valued at $72,808,000. Finally, Brandes Investment Partners LP raised its stake in shares of Flex by 8.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,055,170 shares of the technology company’s stock worth $60,592,000 after buying an additional 157,516 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FLEX shares. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Stifel Nicolaus boosted their target price on shares of Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Craig Hallum upped 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. Finally, Barclays lifted 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $40.83.

Insider Transactions at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares in the company, valued at approximately $5,377,327.06. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,185 shares of company stock valued at $1,442,555 over the last quarter. Company insiders own 0.82% of the company’s stock.

Flex Trading Up 0.7 %

Flex stock opened at $37.33 on Wednesday. The company has a 50 day moving average price of $34.29 and a 200 day moving average price of $31.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $40.30. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.37 and a beta of 1.08.

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.