Gateway Investment Advisers LLC Has $5.06 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

Gateway Investment Advisers LLC increased its holdings in Flex Ltd. (NASDAQ:FLEX) by 18.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 131,860 shares of the technology company’s stock after purchasing an additional 20,461 shares during the period. Gateway Investment Advisers LLC’s holdings in Flex were worth $5,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the period. Merewether Investment Management LP acquired a new position in shares of Flex in the 2nd quarter worth approximately $72,808,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Flex by 462.2% in 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 during the last quarter. Point72 Asset Management L.P. increased its position in shares of Flex by 1,242.5% during the second 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 during the period. Finally, Simcoe Capital Management LLC acquired a new position in Flex in the third quarter valued at $22,075,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Up 0.8 %

Flex stock opened at $42.72 on Friday. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. The firm’s fifty day moving average price is $39.19 and its two-hundred day moving average price is $34.55. Flex Ltd. has a 1-year low of $22.02 and a 1-year high of $44.45. 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 Ratings Changes

FLEX has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Thursday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $42.67.

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by 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.