Raymond James & Associates raised its holdings in Flex Ltd. (NASDAQ:FLEX – Free Report) by 13.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,509 shares of the technology company’s stock after purchasing an additional 68,373 shares during the quarter. Raymond James & Associates owned 0.13% of Flex worth $16,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in FLEX. FMR LLC raised its position in Flex by 49.2% in the first quarter. FMR LLC now owns 32,727,697 shares of the technology company’s stock worth $753,064,000 after acquiring an additional 10,793,420 shares during the period. BlackRock Inc. raised its holdings in shares of Flex by 5.9% in the 1st quarter. BlackRock Inc. now owns 16,377,282 shares of the technology company’s stock worth $376,841,000 after purchasing an additional 916,299 shares during the period. Dimensional Fund Advisors LP lifted its stake in Flex by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,086,505 shares of the technology company’s stock valued at $255,080,000 after purchasing an additional 65,527 shares during the last quarter. Invesco Ltd. grew its holdings in Flex by 119.3% during the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock valued at $195,729,000 after purchasing an additional 5,741,044 shares during the period. Finally, Bank of America Corp DE increased its position in Flex by 0.9% in the first quarter. Bank of America Corp DE now owns 8,742,594 shares of the technology company’s stock worth $201,167,000 after buying an additional 73,829 shares during the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.
Flex Price Performance
Shares of NASDAQ:FLEX opened at $25.77 on Monday. The company has a 50 day moving average of $26.42 and a 200 day moving average of $25.36. The company has a current ratio of 1.46, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market cap of $11.43 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.10 and a beta of 1.43. Flex Ltd. has a 12 month low of $16.70 and a 12 month high of $28.90.
Insider Buying and Selling
In other Flex news, CFO Paul Lundstrom sold 53,517 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $25.72, for a total transaction of $1,376,457.24. Following the sale, the chief financial officer now owns 431,350 shares in the company, valued at $11,094,322. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Paul Lundstrom sold 53,517 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $25.72, for a total transaction of $1,376,457.24. Following the transaction, the chief financial officer now directly owns 431,350 shares in the company, valued at approximately $11,094,322. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Revathi Advaithi sold 240,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $27.29, for a total value of $6,549,600.00. Following the completion of the sale, the chief executive officer now owns 1,585,268 shares of the company’s stock, valued at approximately $43,261,963.72. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
FLEX has been the subject of several research reports. StockNews.com initiated coverage on Flex in a research note on Thursday, October 5th. They set a “hold” rating for the company. Bank of America lifted their target price on shares of Flex from $28.00 to $31.00 in a research note on Sunday, July 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Flex in a report on Monday, July 24th. Finally, Barclays began coverage on shares of Flex in a report on Thursday, September 7th. They set an “overweight” rating and a $35.00 target price on the stock.
Check Out Our Latest Stock Analysis on Flex
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.
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