6,690 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,690 shares of the technology company’s stock, valued at approximately $224,000.

Other hedge funds also recently made changes to their positions in the company. Algert Global LLC grew its stake in shares of Flex by 10.2% during the third quarter. Algert Global LLC now owns 275,935 shares of the technology company’s stock valued at $9,225,000 after acquiring an additional 25,480 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Flex by 9.0% in the third quarter. Cerity Partners LLC now owns 18,716 shares of the technology company’s stock worth $626,000 after acquiring an additional 1,538 shares in the last quarter. Camden National Bank purchased a new position in Flex in the third quarter valued at about $244,000. Citigroup Inc. grew its stake in Flex by 5.9% during the 3rd quarter. Citigroup Inc. now owns 144,575 shares of the technology company’s stock valued at $4,833,000 after purchasing an additional 8,088 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in Flex by 2.0% during the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock worth $693,000 after purchasing an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 0.6 %

Flex stock opened at $41.07 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The firm’s 50-day moving average is $35.12 and its 200-day moving average is $32.31. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. The company has a market cap of $15.93 billion, a P/E ratio of 18.17, a PEG ratio of 2.63 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FLEX. KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Craig Hallum increased their price objective 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. 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. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $40.83.

Insider Activity

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 240,018 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $38.69, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Flex Company 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.