Integrated Investment Consultants LLC Acquires New Shares in Flex Ltd. (NASDAQ:FLEX)

Integrated Investment Consultants LLC bought a new position in Flex Ltd. (NASDAQ:FLEX) in the third quarter, HoldingsChannel reports. The fund bought 6,266 shares of the technology company’s stock, valued at approximately $209,000.

Several other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares during the period. Advisors Asset Management Inc. increased its position in Flex by 7.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 51,254 shares of the technology company’s stock valued at $1,713,000 after acquiring an additional 3,627 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Flex during the third quarter valued at $429,000. Pathstone Holdings LLC lifted its holdings in shares of Flex by 5.5% during the third quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company’s stock worth $2,018,000 after purchasing an additional 3,121 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Flex by 38.7% in the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock worth $1,185,000 after purchasing an additional 9,892 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

Flex stock opened at $41.30 on Friday. The stock’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $32.18. The stock has a market capitalization 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 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 $41.52.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLEX. The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. Craig Hallum lifted their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Barclays boosted their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, KeyCorp assumed coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $40.83.

Insider Buying and Selling

In other Flex news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s 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 sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,185 shares of company stock valued at $1,122,655 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

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.