Freedom Investment Management Inc. Boosts Holdings in Flex Ltd. (NASDAQ:FLEX)

Freedom Investment Management Inc. raised its position in shares of Flex Ltd. (NASDAQ:FLEX) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,919 shares of the technology company’s stock after buying an additional 1,046 shares during the quarter. Freedom Investment Management Inc.’s holdings in Flex were worth $699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in shares of Flex in the third quarter worth approximately $29,000. Huntington National Bank grew its position in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Flex in the third quarter worth about $39,000. Quarry LP bought a new stake in Flex during the 2nd quarter worth approximately $43,000. Finally, American Capital Advisory LLC purchased a new position in shares of Flex during the 2nd quarter valued at $46,000. Institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of Flex stock opened at $38.82 on Friday. The firm has a market cap of $15.05 billion, a PE ratio of 17.18, a P/E/G ratio of 2.61 and a beta of 1.08. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $42.47. The business has a 50-day moving average price of $35.80 and a 200 day moving average price of $32.56. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64.

Insider Activity

In other news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research analyst reports. KeyCorp started coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Barclays upped their price objective on 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 report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Finally, Craig Hallum upped their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.