7,304 Shares in Flex Ltd. (NASDAQ:FLEX) Bought by Camden National Bank

Camden National Bank purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 7,304 shares of the technology company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLEX. Boston Partners boosted its holdings in Flex by 113.8% in the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares during the period. Dimensional Fund Advisors LP grew its position 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 buying an additional 127,688 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after acquiring an additional 31,214 shares in the last quarter. Vanguard Group Inc. raised its holdings in Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after acquiring an additional 141,580 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock worth $88,247,000 after acquiring an additional 2,170,262 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Up 1.9 %

Shares of Flex stock opened at $41.30 on Friday. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $41.52. The stock has a market capitalization of $16.02 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. The company has a 50-day simple moving average of $35.12 and a 200 day simple moving average of $32.26. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the business’s 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 transaction, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s 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 completion of the sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 31,185 shares of company stock valued at $1,122,655. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of recent research reports. Craig Hallum upped their target price on 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 price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note 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. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research report on Thursday, October 17th. Finally, KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.83.

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.