BNP Paribas Financial Markets Has $16.50 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

BNP Paribas Financial Markets increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 2,600.1% in the third quarter, Holdings Channel reports. The firm owned 493,659 shares of the technology company’s stock after buying an additional 475,376 shares during the quarter. BNP Paribas Financial Markets’ holdings in Flex were worth $16,503,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FLEX. Harbor Capital Advisors Inc. bought a new stake in shares of Flex in the 3rd quarter valued at about $29,000. Huntington National Bank increased its stake in 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 purchasing an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in Flex in the third quarter worth $39,000. Quarry LP bought a new position in shares of Flex during the second quarter worth $43,000. Finally, American Capital Advisory LLC acquired a new position in shares of Flex in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of Flex 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 completion of the transaction, the director now directly owns 55,713 shares of the company’s stock, 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. Insiders own 0.82% of the company’s stock.

Flex Stock Performance

Shares of FLEX opened at $38.97 on Friday. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.47 and a beta of 1.08. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $42.47. The firm has a fifty day simple moving average of $35.93 and a 200 day simple moving average of $32.66. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

FLEX has been the topic of several recent analyst reports. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Craig Hallum boosted their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. Finally, Barclays raised their price objective on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average 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.