Gendell Jeffrey L Invests $2.50 Million in Flex Ltd. $FLEX

Gendell Jeffrey L acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the technology company’s stock, valued at approximately $2,496,000.

A number of other institutional investors have also bought and sold shares of the business. Jump Financial LLC purchased a new stake in Flex in the 1st quarter valued at $2,882,000. Benjamin Edwards Inc. purchased a new stake in shares of Flex in the first quarter valued at about $258,000. American Century Companies Inc. increased its position in Flex by 42.2% during the first quarter. American Century Companies Inc. now owns 986,492 shares of the technology company’s stock worth $32,633,000 after purchasing an additional 292,646 shares during the last quarter. Voya Investment Management LLC raised its stake in Flex by 16.7% during the first quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after purchasing an additional 690,611 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after purchasing an additional 453,455 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of Flex stock opened at $68.80 on Friday. The stock has a market capitalization of $25.44 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. The business has a 50-day moving average of $61.55 and a 200 day moving average of $54.70. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22.

Insider Transactions at Flex

In related news, Director William D. Watkins sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the sale, the director directly owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This represents a 16.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total transaction of $719,700.00. Following the completion of the transaction, the chief accounting officer directly owned 27,619 shares of the company’s stock, valued at $1,987,739.43. This represents a 26.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 152,500 shares of company stock valued at $9,165,050. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FLEX has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Barclays upped their price target on Flex from $60.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. KeyCorp raised their price objective on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Bank of America upped their target price on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.88.

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.