Natixis Advisors LLC Acquires 9,892 Shares of Flex Ltd. (NASDAQ:FLEX)

Natixis Advisors LLC increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 38.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,442 shares of the technology company’s stock after acquiring an additional 9,892 shares during the quarter. Natixis Advisors LLC’s holdings in Flex were worth $1,185,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Flex during the third quarter valued at approximately $29,000. Huntington National Bank increased its holdings in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in shares of Flex in the 3rd quarter valued at $39,000. Quarry LP bought a new position in shares of Flex during the 2nd quarter worth about $43,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Flex during the 2nd quarter valued at about $46,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Price Performance

Shares of FLEX opened at $39.92 on Wednesday. The company’s fifty day simple moving average is $35.34 and its 200 day simple moving average is $32.39. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $42.47. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.63 and a beta of 1.08. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total value 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 trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FLEX. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a research note on Thursday, October 17th. KeyCorp assumed coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Barclays increased their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Craig Hallum increased their target price on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Six 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 has a consensus rating of “Buy” and an average target price of $40.83.

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.