PGGM Investments reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 13.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 242,935 shares of the technology company’s stock after selling 36,741 shares during the period. PGGM Investments’ holdings in Flex were worth $7,164,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of FLEX. Richardson Financial Services Inc. acquired a new stake in shares of Flex during the 4th quarter worth $34,000. CWM LLC boosted its stake in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Flex by 52.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 4,502 shares of the technology company’s stock valued at $137,000 after buying an additional 1,540 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Flex by 319.7% in the fourth quarter. First Horizon Advisors Inc. now owns 4,613 shares of the technology company’s stock valued at $141,000 after buying an additional 3,514 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Flex in the first quarter valued at about $149,000. 94.30% of the stock is owned by institutional investors and hedge funds.
Flex Trading Up 4.0 %
Shares of FLEX stock traded up $1.23 during mid-day trading on Thursday, reaching $31.69. 959,154 shares of the stock traded hands, compared to its average volume of 4,395,172. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12. The stock’s fifty day simple moving average is $30.45 and its two-hundred day simple moving average is $29.25.
Insider Transactions at Flex
Analysts Set New Price Targets
Several analysts recently weighed in on FLEX shares. Stifel Nicolaus raised their price objective on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $39.00 in a research note on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus price target of $38.40.
Read Our Latest Stock Analysis on FLEX
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.
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