National Bank of Canada FI Grows Position in Flex Ltd. (NASDAQ:FLEX)

National Bank of Canada FI raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 381,461 shares of the technology company’s stock after purchasing an additional 1,382 shares during the period. National Bank of Canada FI’s holdings in Flex were worth $12,751,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Creative Planning increased its holdings in Flex by 0.6% during the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after buying an additional 839 shares during the period. SG Americas Securities LLC increased its holdings in shares of Flex by 441.6% in the 2nd quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock valued at $1,400,000 after acquiring an additional 38,711 shares during the period. Hsbc Holdings PLC raised its position in shares of Flex by 254.9% in the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock worth $1,499,000 after acquiring an additional 36,465 shares in the last quarter. Valliance Asset Management Ltd purchased a new stake in shares of Flex during the 2nd quarter worth $2,654,000. Finally, Algert Global LLC boosted its position in Flex by 14.6% during the second quarter. Algert Global LLC now owns 250,455 shares of the technology company’s stock valued at $7,386,000 after purchasing an additional 31,876 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Craig Hallum increased their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday. KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Six equities 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, Flex currently has a consensus rating of “Buy” and an average target price of $42.67.

Flex Trading Down 0.6 %

NASDAQ:FLEX opened at $37.93 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $36.74 and a 200-day simple moving average of $33.08. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $42.47. The company has a market capitalization of $14.71 billion, a P/E ratio of 16.78, a PEG ratio of 2.46 and a beta of 1.10.

Insiders Place Their Bets

In related news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction 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 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

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.