MML Investors Services LLC Increases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

MML Investors Services LLC raised its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,390 shares of the technology company’s stock after purchasing an additional 3,964 shares during the quarter. MML Investors Services LLC’s holdings in Flex were worth $1,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FLEX. Harbor Capital Advisors Inc. bought a new position in Flex in the third quarter worth about $29,000. Huntington National Bank grew its holdings in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after acquiring an additional 479 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Flex in the 3rd quarter worth approximately $39,000. Quarry LP purchased a new position in shares of Flex in the 2nd quarter valued at approximately $43,000. Finally, American Capital Advisory LLC purchased a new stake in Flex in the second quarter worth $46,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $509,044.33. Following the sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Craig Hallum boosted their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Barclays upped their price target on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $42.67.

Flex Stock Performance

FLEX stock opened at $38.00 on Tuesday. The stock has a market capitalization of $14.74 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The stock’s 50 day simple moving average is $37.07 and its 200 day simple moving average is $33.18. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $42.47. 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 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.