Flex Ltd. $FLEX Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 223.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,951 shares of the technology company’s stock after acquiring an additional 11,709 shares during the period. QRG Capital Management Inc.’s holdings in Flex were worth $983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FLEX. MTM Investment Management LLC acquired a new position in shares of Flex in the 2nd quarter worth approximately $26,000. Concord Wealth Partners acquired a new position in Flex in the second quarter worth approximately $28,000. CNB Bank bought a new position in shares of Flex in the second quarter valued at $30,000. Harbour Investments Inc. lifted its position in shares of Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after acquiring an additional 301 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Flex by 404.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after acquiring an additional 566 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 target price on shares of Flex in a report on Wednesday, November 12th. KeyCorp upped their price objective on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Finally, Barclays decreased their price objective on shares of Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Flex currently has a consensus rating of “Moderate Buy” and an average target price of $66.11.

Insider Activity

In other Flex news, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $64.26, for a total value of $963,900.00. Following the completion of the sale, the insider directly owned 241,198 shares in the company, valued at $15,499,383.48. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This represents a 16.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 128,906 shares of company stock valued at $7,904,439. 0.57% of the stock is currently owned by company insiders.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $64.40 on Wednesday. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22. The business’s 50-day moving average price is $62.19 and its two-hundred day moving average price is $58.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. The company has a market capitalization of $23.81 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24.

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.