Brighton Jones LLC Purchases New Holdings in Flex Ltd. (NASDAQ:FLEX)

Brighton Jones LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 6,768 shares of the technology company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can raised its position in Flex by 73.3% during the second quarter. Bank of Montreal Can now owns 60,936 shares of the technology company’s stock worth $1,877,000 after acquiring an additional 25,765 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Flex by 6.8% in the 2nd quarter. AQR Capital Management LLC now owns 226,303 shares of the technology company’s stock valued at $6,674,000 after purchasing an additional 14,473 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Flex by 6.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 277,406 shares of the technology company’s stock valued at $8,181,000 after purchasing an additional 16,085 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Flex by 353.7% during the second quarter. NewEdge Advisors LLC now owns 102,234 shares of the technology company’s stock worth $3,015,000 after purchasing an additional 79,700 shares during the period. Finally, Quarry LP acquired a new position in Flex during the second quarter worth approximately $43,000. Institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In related 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 completion of the sale, the director now 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 SEC, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Down 12.2 %

Shares of FLEX opened at $38.85 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 12 month low of $22.57 and a 12 month high of $45.10. The firm’s 50 day moving average is $39.79 and its 200-day moving average is $35.12. The stock has a market capitalization of $15.07 billion, a PE ratio of 17.19, a P/E/G ratio of 2.81 and a beta of 1.10.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. Finally, Barclays boosted their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Flex currently has an average rating of “Buy” and an average price target of $42.67.

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.