TCW Group Inc. Has $60.55 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

TCW Group Inc. grew its stake in Flex Ltd. (NASDAQ:FLEX) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,811,158 shares of the technology company’s stock after purchasing an additional 99,409 shares during the period. TCW Group Inc. owned approximately 0.47% of Flex worth $60,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FLEX. Harbor Capital Advisors Inc. bought a new position in Flex during the 3rd quarter valued at about $29,000. Huntington National Bank raised its stake in shares of Flex by 87.9% in the third 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 last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of Flex in the 3rd quarter worth approximately $39,000. Quarry LP bought 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 valued at $46,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FLEX shares. Barclays boosted their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” 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 report on Tuesday, October 29th. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research report on Thursday, October 17th. Finally, Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Six investment 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, Flex has a consensus rating of “Buy” and a consensus price target of $42.67.

Insiders Place Their Bets

In related news, insider Kwang Hooi Tan sold 8,028 shares of the 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 directly owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. The trade was 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.

Flex Stock Down 0.6 %

Shares of NASDAQ:FLEX opened at $37.93 on Wednesday. The company has a 50 day moving average of $36.74 and a 200-day moving average of $33.08. Flex Ltd. has a one year low of $21.84 and a one year high of $42.47. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

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.