Sanders Morris Harris LLC Buys Shares of 5,600 Flex Ltd. (NASDAQ:FLEX)

Sanders Morris Harris LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,600 shares of the technology company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Flex during the third quarter worth about $29,000. Huntington National Bank increased its position in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Flex in the third quarter valued at about $39,000. Quarry LP purchased a new stake in shares of Flex in the 2nd quarter valued at approximately $43,000. Finally, First Horizon Advisors Inc. boosted its holdings in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

Shares of Flex stock traded up $0.01 on Thursday, reaching $41.93. 136,485 shares of the stock were exchanged, compared to its average volume of 2,678,842. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $44.45. The business has a fifty day moving average price of $39.09 and a two-hundred day moving average price of $34.41. The firm has a market capitalization of $16.26 billion, a PE ratio of 18.55, a PEG ratio of 2.56 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FLEX shares. Craig Hallum boosted their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Thursday. Barclays lifted their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their target price on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.67.

Insider Activity

In other news, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $284,110.92. Following the sale, the insider now 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. 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.