Hyperion Capital Advisors LP Acquires Shares of 7,922 Flex Ltd. (NASDAQ:FLEX)

Hyperion Capital Advisors LP acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,922 shares of the technology company’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Boston Partners lifted its holdings in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Flex by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock valued at $235,289,000 after buying an additional 127,688 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Flex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after buying an additional 31,214 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Flex by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after buying an additional 141,580 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Flex by 462.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after buying an additional 2,170,262 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Price Performance

Flex stock opened at $38.82 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.05 billion, a P/E ratio of 17.18, a PEG ratio of 2.61 and a beta of 1.08. The company has a 50-day moving average price of $35.68 and a 200 day moving average price of $32.52. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $42.47.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent research reports. Barclays increased their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. KeyCorp initiated coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. Finally, 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 research report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target 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.