Flex Ltd (NASDAQ:FLEX) Holdings Trimmed by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC reduced its position in shares of Flex Ltd (NASDAQ:FLEX) by 80.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,021 shares of the technology company’s stock after selling 16,097 shares during the period. Tower Research Capital LLC TRC’s holdings in Flex were worth $42,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT boosted its position in shares of Flex by 46.7% during the 2nd quarter. Iridian Asset Management LLC CT now owns 16,315,248 shares of the technology company’s stock valued at $156,137,000 after purchasing an additional 5,190,929 shares in the last quarter. Renaissance Technologies LLC increased its stake in Flex by 157.9% in the 2nd quarter. Renaissance Technologies LLC now owns 4,708,854 shares of the technology company’s stock worth $45,064,000 after purchasing an additional 2,883,300 shares in the last quarter. Morgan Stanley increased its stake in Flex by 409.8% in the 2nd quarter. Morgan Stanley now owns 3,470,203 shares of the technology company’s stock worth $33,211,000 after purchasing an additional 2,789,455 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Flex by 402.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,353,562 shares of the technology company’s stock worth $31,659,000 after buying an additional 2,686,617 shares during the period. Finally, KCL Capital L.P. acquired a new stake in Flex during the 2nd quarter worth about $23,925,000. 93.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Flex stock opened at $11.36 on Wednesday. The stock has a market cap of $5.77 billion, a PE ratio of 63.11, a price-to-earnings-growth ratio of 2.21 and a beta of 1.84. The business has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $10.34. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Flex Ltd has a 12 month low of $7.16 and a 12 month high of $12.54.
In related news, CFO Christopher Collier sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $11.72, for a total transaction of $410,200.00. Following the completion of the sale, the chief financial officer now directly owns 1,214,143 shares in the company, valued at $14,229,755.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is owned by corporate insiders.
Several brokerages have commented on FLEX. ValuEngine cut shares of Flex from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. BidaskClub upgraded shares of Flex from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Zacks Investment Research upgraded shares of Flex from a “strong sell” rating to a “hold” rating and set a $8.75 price target on the stock in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.58.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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