Temasek Holdings Private Ltd Invests $3.33 Million in Flex Ltd. (NASDAQ:FLEX)

Temasek Holdings Private Ltd bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 99,672 shares of the technology company’s stock, valued at approximately $3,332,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the 3rd quarter worth approximately $29,000. Huntington National Bank lifted its holdings in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in Flex during the 3rd quarter worth approximately $39,000. Quarry LP acquired a new stake in Flex during the 2nd quarter worth approximately $43,000. Finally, American Capital Advisory LLC acquired a new stake in Flex during the 2nd quarter worth approximately $46,000. 94.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FLEX. Craig Hallum lifted their price target on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. KeyCorp began coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Barclays lifted their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Six research 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.com, the stock currently has an average rating of “Buy” and an average target price of $40.83.

Flex Trading Down 1.0 %

Shares of FLEX opened at $39.10 on Friday. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.46 and a beta of 1.10. Flex Ltd. has a 52-week low of $21.84 and a 52-week 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 business’s fifty day moving average is $36.44 and its 200-day moving average is $32.91.

Insider Buying and Selling

In related news, insider Kwang Hooi Tan sold 8,028 shares of the business’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 in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently 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.