Investors Purchase Large Volume of Put Options on Flex (NASDAQ:FLEX)

Flex Ltd. (NASDAQ:FLEX) was the recipient of unusually large options trading activity on Monday. Stock traders bought 2,443 put options on the company. This is an increase of approximately 71% compared to the typical volume of 1,432 put options.

Insiders Place Their Bets

In other news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its position 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 purchasing an additional 305 shares during the period. Stephens Inc. AR lifted its position in shares of Flex by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock worth $472,000 after buying an additional 361 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of 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 period. Huntington National Bank increased its stake in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its stake in shares of Flex by 6.4% during the 4th quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after acquiring an additional 630 shares during the period. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $40.59 on Wednesday. Flex has a one year low of $22.57 and a one year high of $45.10. The company has a market cap of $15.74 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 2.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $39.89 and a 200 day simple moving average of $35.25.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FLEX. Craig Hallum lifted their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Flex currently has a consensus rating of “Buy” and a consensus price target 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.