Algert Global LLC Increases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Algert Global LLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,935 shares of the technology company’s stock after purchasing an additional 25,480 shares during the quarter. Algert Global LLC owned approximately 0.07% of Flex worth $9,225,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Flex during the third quarter valued at $29,000. Huntington National Bank grew its stake in shares of 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 purchasing an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Flex in the 3rd quarter valued at about $39,000. Quarry LP acquired a new position in Flex during the 2nd quarter valued at about $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex during the 2nd quarter worth about $46,000. Institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of FLEX opened at $41.30 on Friday. The company has a market capitalization of $16.02 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.58 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. Flex Ltd. has a one year low of $21.84 and a one year high of $41.52. The company’s fifty day moving average price is $34.89 and its 200 day moving average price is $32.18.

Analyst Ratings Changes

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

Insider Transactions at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,185 shares of company stock worth $1,122,655. 0.82% of the stock is currently owned by company insiders.

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.