Flex Ltd. $FLEX Shares Purchased by Blue Door Asset Management LLC

Blue Door Asset Management LLC increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 418,250 shares of the technology company’s stock after acquiring an additional 17,400 shares during the quarter. Flex comprises 10.8% of Blue Door Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Blue Door Asset Management LLC owned about 0.11% of Flex worth $20,879,000 as of its most recent SEC filing.

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

Insider Transactions at Flex

In other news, Director William D. Watkins sold 20,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $54.52, for a total value 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 approximately $5,346,939.96. This represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 10,000 shares of the firm’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 transaction of $580,000.00. Following the transaction, the director owned 58,561 shares in the company, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 142,500 shares of company stock worth $8,445,350 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Flex Stock Up 5.2%

FLEX opened at $72.08 on Thursday. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. The stock has a market capitalization of $26.65 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.26. The business’s 50-day simple moving average is $61.04 and its 200-day simple moving average is $54.39.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FLEX shares. Jefferies Financial Group restated a “hold” rating and issued a $23.00 price objective on shares of Flex in a report on Wednesday, November 12th. Argus set a $85.00 price objective on shares of Flex in a report on Friday, October 31st. KeyCorp lifted their target price on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Bank of America upped their price target on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Barclays lifted their price objective on Flex from $60.00 to $78.00 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 issued a Hold rating to the stock. According to MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $65.88.

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.