Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 217,000 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, HoldingsChannel reports. The firm acquired 217,000 shares of the technology company’s stock, valued at approximately $7,254,000.

A number of other institutional investors also recently modified their holdings of FLEX. Harbor Capital Advisors Inc. acquired a new stake in Flex during the 3rd quarter valued at $29,000. Huntington National Bank raised its holdings in shares of Flex by 87.9% in 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 last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Flex during the 3rd quarter worth about $39,000. Quarry LP bought a new stake in Flex during the 2nd quarter worth about $43,000. Finally, American Capital Advisory LLC acquired a new stake in Flex in the 2nd quarter valued at about $46,000. Institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of FLEX opened at $38.97 on Friday. The stock has a market cap of $15.11 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.47 and a beta of 1.08. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $42.47. The stock’s 50-day moving average price is $35.93 and its two-hundred day moving average price is $32.63. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research reports. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. KeyCorp initiated coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Barclays boosted 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. Finally, Craig Hallum raised their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $40.83.

Insider Buying and Selling

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 55,713 shares in the company, valued at $2,155,535.97. The trade was a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

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.