Charles K. Stevens III Sells 13,157 Shares of Flex Ltd. (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $40.09 on Friday. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $40.29. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.30 and a beta of 1.08. The business has a 50 day moving average price of $33.39 and a 200 day moving average price of $31.55.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FLEX shares. StockNews.com raised 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 target price on shares of Flex in a research report on Thursday, October 17th. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Barclays increased their target price on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus upped their price target on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $40.83.

Institutional Trading of Flex

Several hedge funds and other institutional investors have recently bought and sold shares of FLEX. Boston Partners lifted its stake in shares of Flex by 113.8% in the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after buying an additional 10,201,162 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Flex by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock worth $235,289,000 after purchasing an additional 127,688 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Flex by 2.4% during the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after purchasing an additional 141,580 shares during the period. Merewether Investment Management LP bought a new position in Flex in the second quarter worth $72,808,000. Finally, Brandes Investment Partners LP boosted its stake in Flex by 8.3% during the second quarter. Brandes Investment Partners LP now owns 2,055,170 shares of the technology company’s stock worth $60,592,000 after buying an additional 157,516 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

About Flex

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.