Flex Ltd. (NASDAQ:FLEX) Holdings Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in Flex Ltd. (NASDAQ:FLEX) by 2,600.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,659 shares of the technology company’s stock after acquiring an additional 475,376 shares during the period. BNP Paribas Financial Markets owned approximately 0.13% of Flex worth $16,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FLEX. First Horizon Advisors Inc. boosted its stake in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock worth $599,000 after acquiring an additional 360 shares during the period. Stephens Inc. AR raised its position in Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after acquiring an additional 361 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Flex by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock valued at $251,000 after acquiring an additional 471 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Up 0.4 %

Shares of Flex stock opened at $38.97 on Friday. The stock has a 50-day moving average price of $35.93 and a 200 day moving average price of $32.66. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The company has a market cap of $15.11 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.47 and a beta of 1.08. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47.

Insider Activity 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 shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 19.10 % decrease in their position. 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 on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of 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. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Craig Hallum raised their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lifted their target price 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 price target on Flex in a research report on Thursday, October 17th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Flex presently has a consensus rating of “Buy” and a consensus target price of $40.83.

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.