Invesco Ltd. Has $442.87 Million Stock Holdings in Flex Ltd. $FLEX

Invesco Ltd. raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 6.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,871,601 shares of the technology company’s stock after purchasing an additional 508,495 shares during the quarter. Invesco Ltd.’s holdings in Flex were worth $442,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FLEX. Rise Advisors LLC bought a new position in shares of Flex in the 1st quarter valued at $25,000. MTM Investment Management LLC purchased a new stake in shares of Flex in the second quarter worth approximately $26,000. Concord Wealth Partners purchased a new stake in Flex in the 2nd quarter valued at about $28,000. CNB Bank purchased a new position in Flex in the second quarter worth $30,000. Finally, Harbour Investments Inc. raised its stake in shares of Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on Flex from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Barclays boosted their price objective on Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Bank of America raised their target price on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, KeyCorp boosted their price target on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $65.75.

Insider Transactions at Flex

In related news, COO Kwang Hooi Tan sold 12,500 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the transaction, the chief operating officer owned 251,136 shares in the company, valued at $16,293,703.68. The trade was a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total value of $933,150.00. Following the completion of the sale, the insider directly owned 211,198 shares of the company’s stock, valued at approximately $13,138,627.58. The trade was a 6.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 152,500 shares of company stock worth $9,011,950. 0.57% of the stock is owned by corporate insiders.

Flex Stock Performance

Flex stock opened at $61.19 on Friday. The firm has a fifty day simple moving average of $60.24 and a two-hundred day simple moving average of $53.58. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $67.00. The company has a market capitalization of $22.63 billion, a PE ratio of 27.08, a P/E/G ratio of 1.56 and a beta of 1.26.

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.