Zurcher Kantonalbank Zurich Cantonalbank Buys 10,527 Shares of Flex Ltd. (NASDAQ:FLEX)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 11.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 102,123 shares of the technology company’s stock after acquiring an additional 10,527 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flex were worth $3,414,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FLEX. Creative Planning lifted its holdings in shares of Flex by 0.6% during the 3rd quarter. Creative Planning now owns 141,371 shares of the technology company’s stock worth $4,726,000 after acquiring an additional 839 shares during the period. SG Americas Securities LLC raised its position in Flex by 441.6% during the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 38,711 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Flex by 254.9% in the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock valued at $1,499,000 after purchasing an additional 36,465 shares in the last quarter. Valliance Asset Management Ltd bought a new position in shares of Flex in the 2nd quarter valued at $2,654,000. Finally, Algert Global LLC lifted its position in shares of Flex by 14.6% during the 2nd quarter. Algert Global LLC now owns 250,455 shares of the technology company’s stock worth $7,386,000 after buying an additional 31,876 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the firm’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 transaction of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on 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 in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on FLEX shares. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. Barclays raised their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $40.83.

Flex Price Performance

Shares of FLEX opened at $39.22 on Tuesday. The business has a 50-day moving average of $36.05 and a 200-day moving average of $32.75. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. The company has a market capitalization of $15.21 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

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.