Massachusetts Financial Services Co. MA increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,095,907 shares of the technology company's stock after purchasing an additional 31,214 shares during the period. Massachusetts Financial Services Co. MA owned 1.83% of Flex worth $237,216,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Creative Planning increased its stake in Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company's stock worth $4,726,000 after buying an additional 839 shares during the period. SG Americas Securities LLC grew its position in shares of Flex by 441.6% during the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company's stock worth $1,400,000 after buying an additional 38,711 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Flex by 254.9% in the second quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company's stock worth $1,499,000 after buying an additional 36,465 shares during the last quarter. Valliance Asset Management Ltd acquired a new stake in Flex in the second quarter valued at $2,654,000. Finally, Algert Global LLC boosted its stake in Flex by 14.6% during the 2nd quarter. Algert Global LLC now owns 250,455 shares of the technology company's stock valued at $7,386,000 after acquiring an additional 31,876 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.
A number of equities research analysts have recently issued reports on the stock. Craig Hallum upped their target price on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays increased their target price on shares of Flex from $39.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price for the company. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. Finally, StockNews.com raised Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $40.83.
Check Out Our Latest Analysis on Flex
Flex stock opened at $41.30 on Friday. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $41.52. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.37 and a beta of 1.08. The company's 50-day moving average price is $34.89 and its two-hundred day moving average price is $32.18. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.
In related news, EVP David Scott Offer sold 10,000 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the sale, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. This represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles K. Stevens III sold 13,157 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,185 shares of company stock worth $1,122,655. 0.82% of the stock is owned by company insiders.
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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