Dynamic Technology Lab Private Ltd Trims Position in Flex Ltd. (NASDAQ:FLEX)

Dynamic Technology Lab Private Ltd trimmed its position in Flex Ltd. (NASDAQ:FLEX) by 63.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,219 shares of the technology company’s stock after selling 105,705 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Flex were worth $2,046,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. bought a new position in Flex in the 3rd quarter valued at $29,000. Huntington National Bank boosted its stake in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the third quarter worth about $39,000. Quarry LP bought a new position in Flex in the 2nd quarter worth about $43,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Flex in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 0.6 %

NASDAQ FLEX opened at $41.07 on Tuesday. The stock has a 50-day moving average of $35.12 and a 200-day moving average of $32.31. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $42.47. The firm has a market cap of $15.93 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08.

Wall Street Analyst Weigh In

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

Insider Activity

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

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.