Dynamic Technology Lab Private Ltd Has $2.05 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

Dynamic Technology Lab Private Ltd cut its position in Flex Ltd. (NASDAQ:FLEX) by 63.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,219 shares of the technology company’s stock after selling 105,705 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Flex were worth $2,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Flex by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares during the last quarter. Stephens Inc. AR increased its holdings in Flex by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after purchasing an additional 361 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Flex by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after purchasing an additional 471 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Flex

In other Flex news, 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 sale, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of Flex stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Flex Stock Down 0.6 %

FLEX opened at $41.07 on Tuesday. The company’s 50-day moving average price is $35.12 and its two-hundred day moving average price is $32.31. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $42.47. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.63 and a beta of 1.08.

Wall Street Analyst Weigh In

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

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.