OneAscent Investment Solutions LLC Buys Shares of 10,715 Flex Ltd. $FLEX

OneAscent Investment Solutions LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the third quarter, HoldingsChannel reports. The institutional investor purchased 10,715 shares of the technology company’s stock, valued at approximately $621,000.

Several other hedge funds and other institutional investors have also modified their holdings of FLEX. Fulton Bank N.A. raised its stake in Flex by 0.3% during the 3rd quarter. Fulton Bank N.A. now owns 49,904 shares of the technology company’s stock valued at $2,893,000 after purchasing an additional 167 shares during the last quarter. Diversified Trust Co grew its position in Flex by 2.4% in the 3rd quarter. Diversified Trust Co now owns 7,697 shares of the technology company’s stock worth $446,000 after purchasing an additional 179 shares during the last quarter. Modera Wealth Management LLC increased its holdings in shares of Flex by 3.4% during the 3rd quarter. Modera Wealth Management LLC now owns 7,011 shares of the technology company’s stock worth $406,000 after purchasing an additional 231 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Flex by 7.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 3,594 shares of the technology company’s stock valued at $208,000 after buying an additional 248 shares during the last quarter. Finally, Archer Investment Corp lifted its stake in shares of Flex by 8.9% in the second quarter. Archer Investment Corp now owns 3,050 shares of the technology company’s stock valued at $152,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FLEX shares. Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Bank of America upped their target price on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Barclays decreased their price target on shares of Flex from $78.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.11.

Flex Stock Down 3.7%

FLEX opened at $63.04 on Friday. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.73 and a beta of 1.24. The firm’s 50-day simple moving average is $63.22 and its 200-day simple moving average is $58.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.

Insider Activity at Flex

In other news, Director William D. Watkins sold 20,000 shares of Flex stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $54.52, for a total value of $1,090,400.00. Following the completion of the transaction, the director owned 98,073 shares in the company, valued at approximately $5,346,939.96. The trade was a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Hurlston sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the transaction, the director directly owned 58,561 shares in the company, valued at $3,396,538. The trade was a 14.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 101,406 shares of company stock valued at $6,129,539. Insiders own 0.57% of the company’s stock.

Flex Company 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.