Zurcher Kantonalbank Zurich Cantonalbank Acquires 10,527 Shares of Flex Ltd. (NASDAQ:FLEX)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 11.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 102,123 shares of the technology company’s stock after acquiring an additional 10,527 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flex were worth $3,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FLEX. Creative Planning increased its stake in Flex by 0.6% in the third quarter. Creative Planning now owns 141,371 shares of the technology company’s stock valued at $4,726,000 after purchasing an additional 839 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Flex by 441.6% in the 2nd quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock valued at $1,400,000 after buying an additional 38,711 shares in the last quarter. Hsbc Holdings PLC raised its stake in Flex by 254.9% during the 2nd quarter. Hsbc Holdings PLC now owns 50,770 shares of the technology company’s stock worth $1,499,000 after buying an additional 36,465 shares during the period. Valliance Asset Management Ltd acquired a new position in Flex in the second quarter valued at about $2,654,000. Finally, Algert Global LLC increased its holdings in shares of Flex by 14.6% in the second quarter. Algert Global LLC now owns 250,455 shares of the technology company’s stock worth $7,386,000 after acquiring an additional 31,876 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 0.6 %

Shares of NASDAQ:FLEX opened at $39.22 on Tuesday. The company has a 50-day simple moving average of $36.05 and a 200 day simple moving average of $32.75. The company has a market capitalization of $15.21 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $42.47.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Craig Hallum raised 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 started coverage on shares of Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, Barclays boosted their target price on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $40.83.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’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 sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the 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 transaction, 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 disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

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.