CreativeOne Wealth LLC Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

CreativeOne Wealth LLC bought a new position in Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, Holdings Channel reports. The firm bought 16,060 shares of the technology company’s stock, valued at approximately $537,000.

Other large investors have also recently made changes to their positions in the company. Merewether Investment Management LP purchased a new stake in Flex in the 2nd quarter valued at about $72,808,000. Charles Schwab Investment Management Inc. raised its position in Flex by 462.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after purchasing an additional 2,170,262 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock worth $21,495,000 after buying an additional 792,700 shares in the last quarter. TCW Group Inc. increased its stake in shares of Flex by 48.1% during the second quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company’s stock valued at $50,479,000 after buying an additional 556,286 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Flex by 2,600.1% in the third quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company’s stock valued at $16,503,000 after acquiring an additional 475,376 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of FLEX opened at $38.97 on Monday. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $42.47. The stock has a fifty day moving average price of $35.93 and a 200-day moving average price of $32.68. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a market cap of $15.11 billion, a PE ratio of 17.24, a P/E/G ratio of 2.48 and a beta of 1.08.

Insider Activity at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the sale, the director now directly owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on FLEX. KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. Barclays lifted their price objective on shares of 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 target price on Flex in a report on Thursday, October 17th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $40.83.

About Flex

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.