Investors Buy High Volume of Flex Put Options (NASDAQ:FLEX)

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

Analyst Ratings Changes

Several research firms have recently weighed in on FLEX. KeyCorp began coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Craig Hallum lifted their price objective 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. Barclays increased their target price on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on Flex in a report on Thursday, October 17th. Finally, Stifel Nicolaus increased their price objective on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note 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 stock. According to data from MarketBeat.com, Flex currently has a consensus rating of “Buy” and an average price target of $42.67.

Insider Buying and Selling

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flex

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. grew its position in Flex by 23.6% in the 3rd 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 last quarter. Stephens Inc. AR grew its position in Flex by 2.6% during the third 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. increased its stake in Flex by 2.0% during the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after acquiring an additional 413 shares during the period. Huntington National Bank raised 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 acquiring an additional 479 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its position in shares of Flex by 6.4% in 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. Institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $38.85 on Tuesday. Flex has a 12 month low of $22.57 and a 12 month high of $45.10. The company has a market cap of $15.07 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.81 and a beta of 1.10. The business’s 50 day moving average is $39.79 and its two-hundred day moving average is $35.12. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64.

Flex Company 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.