Flex Ltd. (NASDAQ:FLEX) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,002 shares of the technology company’s stock after selling 1,715 shares during the period. Integrated Wealth Concepts LLC’s holdings in Flex were worth $502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in shares of Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares during the period. Raymond James Trust N.A. lifted its position in Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock valued at $599,000 after purchasing an additional 360 shares during the period. Stephens Inc. AR lifted its position in Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after purchasing an additional 361 shares during the period. Huntington National Bank lifted its position in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. lifted its position in Flex by 6.9% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 11,225 shares of the technology company’s stock valued at $375,000 after purchasing an additional 725 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Down 0.6 %

Shares of Flex stock opened at $37.93 on Wednesday. The company has a market cap of $14.71 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The firm has a 50-day simple moving average of $36.74 and a two-hundred day simple moving average of $33.08. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FLEX. Barclays boosted their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. 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 research report on Tuesday. KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Craig Hallum upped their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price 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.