Flex Ltd. (NASDAQ:FLEX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 619.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,465,814 shares of the technology company’s stock after acquiring an additional 3,844,935 shares during the period. Geode Capital Management LLC owned 1.15% of Flex worth $149,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Flex during the 3rd quarter valued at approximately $29,000. Huntington National Bank grew its position in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in Flex during the 3rd quarter worth approximately $39,000. Quarry LP acquired a new position in shares of Flex in the second quarter worth $43,000. Finally, American Capital Advisory LLC acquired a new position in Flex during the 2nd quarter worth $46,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on FLEX shares. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Barclays raised their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Stifel Nicolaus raised their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $42.67.

Flex Price Performance

Shares of FLEX opened at $38.00 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $42.47. The stock has a market cap of $14.74 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The firm has a fifty day moving average price of $37.07 and a 200 day moving average price of $33.18.

Insider Transactions at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Company 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.