Charles Schwab Investment Management Inc. Grows Holdings in Flex Ltd. $FLEX

Charles Schwab Investment Management Inc. lifted its position in shares of Flex Ltd. (NASDAQ:FLEX) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,662,488 shares of the technology company’s stock after acquiring an additional 116,032 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.71% of Flex worth $132,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MTM Investment Management LLC acquired a new position in Flex in the 2nd quarter worth about $26,000. Concord Wealth Partners acquired a new position in shares of Flex during the 2nd quarter worth approximately $28,000. CNB Bank purchased a new position in shares of Flex during the 2nd quarter valued at approximately $30,000. Harbour Investments Inc. grew its stake in Flex by 74.7% in 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 period. Finally, Nisa Investment Advisors LLC increased its holdings in Flex by 404.3% in 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. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Flex from $66.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, October 30th. KeyCorp lifted their price objective on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Flex in a report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. increased their price objective on Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Flex has an average rating of “Moderate Buy” and an average target price of $65.75.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 45,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $57.14, for a total value of $2,571,300.00. Following the completion of the transaction, the insider directly owned 256,198 shares in the company, valued at approximately $14,639,153.72. This represents a 14.94% decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction 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 sale, the director directly owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 152,500 shares of company stock valued at $9,011,950 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Flex Price Performance

Shares of FLEX stock opened at $58.40 on Friday. 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 $21.60 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The firm’s 50-day moving average is $60.20 and its two-hundred day moving average is $53.00. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $67.00.

Flex 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.