Raymond James Trust N.A. Boosts Holdings in Flex Ltd. (NASDAQ:FLEX)

Raymond James Trust N.A. raised its position in Flex Ltd. (NASDAQ:FLEX) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,720 shares of the technology company’s stock after acquiring an additional 413 shares during the period. Raymond James Trust N.A.’s holdings in Flex were worth $693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FLEX. Boston Partners raised its holdings in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after purchasing an additional 10,201,162 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of Flex in the 2nd quarter valued at approximately $72,808,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Flex by 462.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after buying an additional 2,170,262 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Flex by 1,242.5% during the second quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after acquiring an additional 792,700 shares during the period. Finally, TCW Group Inc. raised its position in Flex by 48.1% in the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock worth $50,479,000 after acquiring an additional 556,286 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

FLEX stock opened at $41.07 on Tuesday. The stock’s 50 day moving average price is $35.12 and its 200 day moving average price is $32.31. The firm has a market cap of $15.93 billion, a P/E ratio of 18.27, a PEG ratio of 2.63 and a beta of 1.08. 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 1 year low of $21.84 and a 1 year high of $42.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FLEX shares. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. Craig Hallum lifted their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group set a $39.00 price objective on Flex in a research note on Thursday, October 17th. Six investment 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, Flex has a consensus rating of “Buy” and an average price target of $40.83.

Insider Activity

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction 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 of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction 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 sale, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This 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 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.