Flex Ltd. (NASDAQ:FLEX) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Flex Ltd. (NASDAQ:FLEX) by 462.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,639,769 shares of the technology company’s stock after purchasing an additional 2,170,262 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of Flex worth $88,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Flex in the 3rd quarter valued at about $29,000. Huntington National Bank lifted its holdings in shares of Flex by 87.9% in 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 in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Flex in the third quarter valued at approximately $39,000. Quarry LP purchased a new position in shares of Flex during the 2nd quarter worth approximately $43,000. Finally, American Capital Advisory LLC acquired a new position in shares of Flex during the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

FLEX opened at $38.82 on Thursday. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. The company’s 50 day simple moving average is $35.52 and its 200 day simple moving average is $32.47. The stock has a market capitalization of $15.05 billion, a PE ratio of 17.18, a P/E/G ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Insider Buying and Selling at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 $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. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Craig Hallum raised 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. KeyCorp began coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Barclays upped their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flex has an average rating of “Buy” and a consensus price target of $40.83.

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.