Huntington National Bank Has $34,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Huntington National Bank increased its position in Flex Ltd. (NASDAQ:FLEX) by 87.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,024 shares of the technology company’s stock after acquiring an additional 479 shares during the period. Huntington National Bank’s holdings in Flex were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Flex by 24.6% during the 1st quarter. SG Americas Securities LLC now owns 8,766 shares of the technology company’s stock valued at $251,000 after purchasing an additional 1,729 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Flex by 7.7% during the 1st quarter. Blair William & Co. IL now owns 12,378 shares of the technology company’s stock valued at $354,000 after acquiring an additional 884 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after acquiring an additional 141,580 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Flex by 18.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 112,185 shares of the technology company’s stock worth $3,210,000 after purchasing an additional 17,336 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Flex during the first quarter worth approximately $491,000. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of research analyst reports. Barclays boosted 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. JPMorgan Chase & Co. upped their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Craig Hallum upped their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.83.

Insider Activity at Flex

In other Flex news, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the transaction, the executive vice president now owns 158,094 shares in the company, valued at approximately $5,209,197.30. This trade represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,185 shares of company stock valued at $1,442,555 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Flex Stock Up 0.7 %

Shares of NASDAQ:FLEX opened at $37.33 on Wednesday. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $40.30. The firm has a market cap of $14.48 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.37 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $34.29 and its two-hundred day moving average price is $31.99.

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.