First Horizon Advisors Inc. Boosts Stock Position in Flex Ltd. (NASDAQ:FLEX)

First Horizon Advisors Inc. lifted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 23.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,596 shares of the technology company’s stock after purchasing an additional 305 shares during the quarter. First Horizon Advisors Inc.’s holdings in Flex were worth $53,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Trust N.A. lifted its holdings in shares of Flex by 1.8% in the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock worth $599,000 after acquiring 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 valued at $472,000 after buying an additional 361 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Flex by 5.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after buying an additional 471 shares during the last quarter. Huntington National Bank increased its holdings in shares of Flex by 87.9% in the third 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 period. Finally, Lowe Brockenbrough & Co. Inc. lifted its stake in shares of Flex by 6.9% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company’s stock valued at $375,000 after acquiring an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction 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 sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction 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 sale, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FLEX shares. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. Barclays increased their price target on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, 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 report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Flex has an average rating of “Buy” and a consensus price target of $40.83.

Flex Trading Up 1.9 %

NASDAQ:FLEX opened at $41.30 on Monday. The company has a 50-day moving average price of $35.12 and a 200-day moving average price of $32.28. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 2.58 and a beta of 1.08. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $41.52.

Flex 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.