Flex Ltd. $FLEX Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 192.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 597,899 shares of the technology company’s stock after purchasing an additional 393,620 shares during the quarter. SG Americas Securities LLC owned about 0.16% of Flex worth $34,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLEX. HB Wealth Management LLC increased its holdings in Flex by 5.0% in the third quarter. HB Wealth Management LLC now owns 7,144 shares of the technology company’s stock valued at $414,000 after buying an additional 339 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in shares of Flex in the 3rd quarter worth approximately $213,000. Hennion & Walsh Asset Management Inc. increased its stake in Flex by 54.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 19,774 shares of the technology company’s stock valued at $1,146,000 after purchasing an additional 6,989 shares in the last quarter. Longboard Asset Management LP acquired a new position in Flex during the third quarter worth $219,000. Finally, D.A. Davidson & CO. boosted its position in Flex by 18.0% during the third quarter. D.A. Davidson & CO. now owns 11,564 shares of the technology company’s stock worth $670,000 after purchasing an additional 1,767 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Bank of America raised their target price on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. The Goldman Sachs Group increased their price target on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.88.

Flex Stock Performance

Flex stock opened at $61.36 on Thursday. The stock has a fifty day moving average price of $62.10 and a 200 day moving average price of $57.23. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $72.22. The firm has a market capitalization of $22.69 billion, a P/E ratio of 27.15, a PEG ratio of 1.65 and a beta of 1.24. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60.

Insider Buying and Selling at Flex

In related news, Director William D. Watkins sold 20,000 shares of the firm’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 value of $1,090,400.00. Following the sale, the director directly owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This trade represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $64.26, for a total transaction of $963,900.00. Following the transaction, the insider directly owned 241,198 shares of the company’s stock, valued at $15,499,383.48. This trade represents a 5.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 107,500 shares of company stock worth $6,593,750. 0.57% of the stock is currently owned by insiders.

Flex Company Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.