Flex Ltd. (NASDAQ:FLEX) Shares Sold by abrdn plc

abrdn plc decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 21.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 132,947 shares of the technology company’s stock after selling 36,422 shares during the period. abrdn plc’s holdings in Flex were worth $4,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Kathleen S. Wright Associates Inc. acquired a new position in Flex during the third quarter worth $39,000. Quarry LP purchased a new position in shares of Flex in the 2nd quarter valued at about $43,000. American Capital Advisory LLC purchased a new position in shares of Flex in the 2nd quarter valued at about $46,000. J.Safra Asset Management Corp lifted its stake in shares of Flex by 623.6% in the second quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after purchasing an additional 2,538 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Flex by 79.4% during the third quarter. Whittier Trust Co. now owns 3,284 shares of the technology company’s stock worth $110,000 after buying an additional 1,453 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLEX. KeyCorp initiated coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Barclays upped their target price on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday. Craig Hallum raised their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $40.83.

Insider Activity at Flex

In other news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the completion of the sale, the executive vice president now directly owns 168,094 shares in the company, valued at $5,377,327.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the executive vice president now owns 168,094 shares in the company, valued at approximately $5,377,327.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,028 shares of company stock valued at $933,511. 0.82% of the stock is owned by insiders.

Flex Stock Up 2.3 %

Shares of NASDAQ:FLEX opened at $35.48 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $14.09 billion, a P/E ratio of 15.70, a P/E/G ratio of 2.05 and a beta of 1.08. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $36.98. The stock’s fifty day simple moving average is $32.81 and its 200-day simple moving average is $31.23.

About Flex

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.