Janus Henderson Group PLC Raises Holdings in Flex Ltd. (NASDAQ:FLEX)

Janus Henderson Group PLC grew its position in Flex Ltd. (NASDAQ:FLEX) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,874,144 shares of the technology company’s stock after purchasing an additional 344,773 shares during the quarter. Janus Henderson Group PLC owned approximately 0.07% of Flex worth $898,389,000 as of its most recent SEC filing.

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

Insider Transactions at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the 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 transaction, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents 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 Stock Up 0.6 %

Shares of FLEX stock opened at $39.22 on Tuesday. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The firm has a market capitalization of $15.21 billion, a PE ratio of 17.35, a P/E/G ratio of 2.48 and a beta of 1.10. The stock’s 50-day simple moving average is $36.05 and its 200-day simple moving average is $32.75.

Analyst Upgrades and Downgrades

FLEX has been the topic of several recent analyst reports. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 target price on Flex in a research report on Thursday, October 17th. Barclays upped their target price on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. KeyCorp initiated 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. Finally, Craig Hallum upped their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report 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, the company has a consensus rating of “Buy” and a consensus target price of $40.83.

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.