Flex Ltd. (NASDAQ:FLEX) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 311.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 375,452 shares of the technology company’s stock after acquiring an additional 284,283 shares during the period. Bridgewater Associates LP owned 0.10% of Flex worth $12,551,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. acquired a new position in Flex in the 3rd quarter valued at $29,000. Huntington National Bank grew its stake 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 buying an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex during the 3rd quarter valued at $39,000. Quarry LP purchased a new stake in shares of Flex during the 2nd quarter valued at $43,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Flex during the 2nd quarter valued at $46,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Flex Stock Performance

NASDAQ:FLEX opened at $38.82 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The firm has a 50-day moving average of $35.80 and a two-hundred day moving average of $32.56. The stock has a market cap of $15.05 billion, a P/E ratio of 17.18, a PEG ratio of 2.61 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 Buying and Selling at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated 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 directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

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.