Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 217,000 shares of the technology company’s stock, valued at approximately $7,254,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Flex at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Bridgewater Associates LP raised its stake in shares of Flex by 311.8% during the 3rd quarter. Bridgewater Associates LP now owns 375,452 shares of the technology company’s stock worth $12,551,000 after purchasing an additional 284,283 shares in the last quarter. Freedom Investment Management Inc. lifted its stake in Flex by 5.3% in the third quarter. Freedom Investment Management Inc. now owns 20,919 shares of the technology company’s stock valued at $699,000 after acquiring an additional 1,046 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Flex by 2,600.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company’s stock worth $16,503,000 after purchasing an additional 475,376 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Flex during the 3rd quarter valued at $460,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Flex by 55.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 16,612 shares of the technology company’s stock valued at $555,000 after purchasing an additional 5,924 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Price Performance

Shares of Flex stock opened at $38.97 on Friday. The firm has a fifty day moving average price of $35.93 and a two-hundred day moving average price of $32.63. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The company has a market cap of $15.11 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.47 and a beta of 1.08.

Insider Buying and Selling

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the sale, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.83.

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.