Assetmark Inc. Acquires 2,432 Shares of Flex Ltd. (NASDAQ:FLEX)

Assetmark Inc. boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 15.2% during the 3rd quarter, Holdings Channel reports. The firm owned 18,462 shares of the technology company’s stock after buying an additional 2,432 shares during the period. Assetmark Inc.’s holdings in Flex were worth $617,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FLEX. SG Americas Securities LLC increased its stake in Flex by 24.6% in the 1st quarter. SG Americas Securities LLC now owns 8,766 shares of the technology company’s stock worth $251,000 after acquiring an additional 1,729 shares during the last quarter. Blair William & Co. IL increased its position in Flex by 7.7% during the 1st quarter. Blair William & Co. IL now owns 12,378 shares of the technology company’s stock valued at $354,000 after buying an additional 884 shares in the last quarter. Twin Tree Management LP increased its holdings in shares of Flex by 29,912.0% in the first quarter. Twin Tree Management LP now owns 97,239 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 96,915 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Flex in the first quarter valued at about $51,543,000. Finally, Vanguard Group Inc. boosted its stake in shares of Flex by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after buying an additional 141,580 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of recent analyst reports. Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Finally, Barclays raised their price target on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $40.83.

Flex Stock Down 1.2 %

FLEX opened at $37.20 on Friday. The business’s 50-day simple moving average is $34.12 and its 200-day simple moving average is $31.87. 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 one year low of $21.84 and a one year high of $40.30. The stock has a market capitalization of $14.43 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was 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 directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the company’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 completion of the sale, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,185 shares of company stock worth $1,442,555. 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.