Chesley Taft & Associates LLC Takes $298,000 Position in Flex Ltd. (NASDAQ:FLEX)

Chesley Taft & Associates LLC bought a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 7,765 shares of the technology company’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional 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 worth approximately $29,000. Huntington National Bank grew its position in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after buying an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Flex in the third quarter valued at $39,000. Quarry LP acquired a new stake in shares of Flex during the 2nd quarter valued at $43,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FLEX shares. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. Barclays boosted their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Craig Hallum raised their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flex has a consensus rating of “Buy” and an average price target of $42.67.

Flex Price Performance

Shares of FLEX opened at $44.27 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.70 and a beta of 1.10. The business’s 50-day moving average is $39.27 and its 200-day moving average is $34.71. Flex Ltd. has a fifty-two week low of $22.57 and a fifty-two week high of $44.66.

Insider Buying and Selling at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

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.