Wilmington Savings Fund Society FSB Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Wilmington Savings Fund Society FSB purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,240 shares of the technology company’s stock, valued at approximately $75,000.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in Flex during the 3rd quarter valued at about $29,000. Huntington National Bank increased its holdings in Flex by 87.9% during 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 during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex in the third quarter worth $39,000. Quarry LP bought a new stake in shares of Flex during the 2nd quarter valued at about $43,000. Finally, American Capital Advisory LLC purchased a new stake in Flex in the second quarter valued at approximately $46,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 value of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction that occurred 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 owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLEX. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. KeyCorp began coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Craig Hallum lifted their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Six investment 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.com, the stock has a consensus rating of “Buy” and an average price target of $42.67.

Flex Stock Performance

NASDAQ:FLEX opened at $38.64 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The firm has a market cap of $14.98 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The business has a 50 day moving average price of $37.45 and a 200-day moving average price of $33.35.

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.