Aigen Investment Management LP Purchases New Position in Flex Ltd. (NASDAQ:FLEX)

Aigen Investment Management LP acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 9,109 shares of the technology company’s stock, valued at approximately $305,000.

Several other large investors have also recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the 3rd quarter valued at $29,000. Kathleen S. Wright Associates Inc. acquired a new position in Flex in the third quarter valued at about $39,000. Quarry LP bought a new stake in shares of Flex in the second quarter worth about $43,000. American Capital Advisory LLC acquired a new stake in shares of Flex during the second quarter worth about $46,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Flex during the 3rd quarter valued at about $74,000. Institutional investors own 94.30% of the company’s stock.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 5.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now owns 240,018 shares of the company’s stock, 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. Insiders have sold a total of 41,185 shares of company stock worth $1,442,555 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

FLEX has been the subject of several research reports. StockNews.com raised shares of 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 price target on Flex in a research note on Thursday, October 17th. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. 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 report on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $40.83.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $37.20 on Friday. 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 stock has a 50 day moving average price of $34.12 and a 200 day moving average price of $31.87. The stock has a market capitalization of $14.43 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $40.30.

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.