Linden Thomas Advisory Services LLC Purchases New Stake in Flex Ltd. $FLEX

Linden Thomas Advisory Services LLC purchased a new stake in Flex Ltd. (NASDAQ:FLEX) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,714 shares of the technology company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLEX. Brighton Jones LLC bought a new stake in Flex in the fourth quarter valued at approximately $260,000. GAMMA Investing LLC raised its position in Flex by 231.2% in the 1st quarter. GAMMA Investing LLC now owns 1,636 shares of the technology company’s stock valued at $54,000 after buying an additional 1,142 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Flex by 7,157.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company’s stock valued at $2,290,000 after buying an additional 68,065 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Flex by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 112,253 shares of the technology company’s stock valued at $3,713,000 after buying an additional 4,200 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in Flex by 0.5% in the 1st quarter. New York State Teachers Retirement System now owns 355,545 shares of the technology company’s stock valued at $11,761,000 after purchasing an additional 1,761 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research note on Wednesday, October 8th. KeyCorp raised their price objective on Flex from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Stifel Nicolaus raised their price target on Flex from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. KGI Securities cut Flex from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group set a $66.00 price target on Flex in a research report on Monday, September 29th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.71.

Insiders Place Their Bets

In other news, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the sale, the director directly owned 17,012 shares of the company’s stock, valued at approximately $875,607.64. The trade was a 37.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the sale, the chief accounting officer directly owned 37,619 shares of the company’s stock, valued at $2,131,492.54. The trade was a 21.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,520 shares of company stock worth $4,295,542 in the last three months. 0.57% of the stock is owned by insiders.

Flex Price Performance

NASDAQ:FLEX opened at $64.66 on Tuesday. The stock has a 50 day moving average price of $57.36 and a 200 day moving average price of $48.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a market cap of $24.27 billion, a PE ratio of 28.36, a P/E/G ratio of 2.09 and a beta of 1.15. Flex Ltd. has a one year low of $25.11 and a one year high of $65.88.

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.