Petrus Trust Company LTA Has $792,000 Holdings in Flex Ltd. (NASDAQ:FLEX)

Petrus Trust Company LTA boosted its holdings in Flex Ltd. (NASDAQ:FLEX) by 192.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,681 shares of the technology company’s stock after acquiring an additional 15,570 shares during the period. Petrus Trust Company LTA’s holdings in Flex were worth $792,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Flex

In related news, 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 value of $284,110.92. Following the completion of the sale, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 19.10 % 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.

Flex Stock Down 1.4 %

Shares of FLEX opened at $38.67 on Wednesday. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.49 and a beta of 1.10. Flex Ltd. has a 52 week low of $21.84 and a 52 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 stock has a fifty day moving average of $36.19 and a 200-day moving average of $32.82.

Analyst Ratings Changes

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