TCW Group Inc. Has $60.55 Million Stake in Flex Ltd. (NASDAQ:FLEX)

TCW Group Inc. lifted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 5.8% during the third quarter, HoldingsChannel reports. The firm owned 1,811,158 shares of the technology company’s stock after acquiring an additional 99,409 shares during the quarter. TCW Group Inc.’s holdings in Flex were worth $60,547,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. First Horizon Advisors Inc. increased its stake in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Flex by 1.8% during the second quarter. Raymond James Trust N.A. now owns 20,307 shares of the technology company’s stock worth $599,000 after acquiring an additional 360 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Flex by 2.6% during the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after acquiring an additional 361 shares during the period. Huntington National Bank raised its holdings in shares of Flex by 87.9% during the third 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. Finally, Wahed Invest LLC boosted its stake in Flex by 7.4% in the 3rd quarter. Wahed Invest LLC now owns 9,637 shares of the technology company’s stock worth $322,000 after purchasing an additional 667 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on FLEX shares. Stifel Nicolaus lifted their price target on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. Finally, Barclays increased their target price on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $42.67.

Flex Trading Down 0.6 %

Shares of Flex stock opened at $37.93 on Wednesday. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $42.47. 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 business’s 50 day moving average is $36.74 and its 200-day moving average is $33.08. The stock has a market cap of $14.71 billion, a P/E ratio of 16.78, a P/E/G ratio of 2.46 and a beta of 1.10.

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.