Douglass Winthrop Advisors LLC Invests $224,000 in Flex Ltd. (NASDAQ:FLEX)

Douglass Winthrop Advisors LLC acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,690 shares of the technology company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Flex by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after buying an additional 141,580 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Flex by 27.6% in the first quarter. Advisors Asset Management Inc. now owns 37,811 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 8,169 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Flex by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,742 shares of the technology company’s stock valued at $1,824,000 after purchasing an additional 2,522 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Flex during the 1st quarter worth approximately $281,000. Finally, SVB Wealth LLC acquired a new position in shares of Flex during the 1st quarter worth approximately $454,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction on 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 owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FLEX. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Barclays upped their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report 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. Finally, Craig Hallum raised their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $40.83.

Flex Price Performance

FLEX opened at $41.07 on Tuesday. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The company’s 50 day simple moving average is $35.12 and its 200 day simple moving average is $32.31. The stock has a market capitalization of $15.93 billion, a PE ratio of 18.17, a P/E/G ratio of 2.63 and a beta of 1.08.

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.