Flex Ltd. $FLEX Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Flex Ltd. (NASDAQ:FLEX) by 192.7% in the third quarter, Holdings Channel reports. The institutional investor owned 597,899 shares of the technology company’s stock after acquiring an additional 393,620 shares during the quarter. SG Americas Securities LLC’s holdings in Flex were worth $34,660,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Boston Partners raised its position in shares of Flex by 3.5% during the 2nd quarter. Boston Partners now owns 20,620,717 shares of the technology company’s stock worth $1,029,769,000 after purchasing an additional 687,835 shares during the period. State Street Corp boosted its position in shares of Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the period. Invesco Ltd. grew its holdings in Flex by 6.1% in the 2nd quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company’s stock worth $442,870,000 after buying an additional 508,495 shares in the last quarter. Geode Capital Management LLC increased its position in Flex by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock valued at $358,500,000 after acquiring an additional 2,459,511 shares during the period. Finally, Norges Bank bought a new stake in Flex during the 2nd quarter valued at $291,362,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLEX. JPMorgan Chase & Co. raised their price target on Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. The Goldman Sachs Group upped their price target on shares of Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Bank of America raised their price objective on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $23.00 price target on shares of Flex in a research report on Wednesday, November 12th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.88.

Flex Stock Performance

FLEX stock opened at $61.36 on Thursday. The firm has a 50 day moving average of $62.10 and a two-hundred day moving average of $57.23. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $72.22. The company has a market capitalization of $22.69 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.65 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60.

Insider Activity

In related news, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the sale, the chief accounting officer directly owned 27,619 shares in the company, valued at approximately $1,987,739.43. The trade was a 26.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Hurlston sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the transaction, the director owned 58,561 shares in the company, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 107,500 shares of company stock valued at $6,593,750. Corporate insiders own 0.57% of the company’s stock.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.