Massachusetts Financial Services Co. MA Purchases 355,061 Shares of Flex Ltd. $FLEX

Massachusetts Financial Services Co. MA raised its position in shares of Flex Ltd. (NASDAQ:FLEX) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,631,237 shares of the technology company’s stock after buying an additional 355,061 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Flex were worth $326,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its position in Flex by 9.1% during the third quarter. Sequoia Financial Advisors LLC now owns 154,007 shares of the technology company’s stock valued at $8,928,000 after acquiring an additional 12,858 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Flex by 223.4% during the third quarter. QRG Capital Management Inc. now owns 16,951 shares of the technology company’s stock worth $983,000 after purchasing an additional 11,709 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Flex by 19.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 25,747 shares of the technology company’s stock valued at $1,493,000 after purchasing an additional 4,112 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Flex by 35.1% in the 3rd quarter. Ritholtz Wealth Management now owns 18,420 shares of the technology company’s stock worth $1,068,000 after purchasing an additional 4,784 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Flex during the 3rd quarter worth $1,460,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $64.83 on Monday. The firm has a market capitalization of $23.97 billion, a P/E ratio of 28.69, a PEG ratio of 1.72 and a beta of 1.24. The stock has a 50-day simple moving average of $62.11 and a two-hundred day simple moving average of $57.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $72.22.

Insider Buying and Selling

In related news, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the transaction, the chief accounting officer directly owned 27,619 shares in the company, valued at $1,987,739.43. The trade was a 26.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Krumm sold 21,406 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total transaction of $1,310,689.38. Following the sale, the chief financial officer owned 143,803 shares in the company, valued at approximately $8,805,057.69. This represents a 12.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 128,906 shares of company stock valued at $7,904,439 in the last three months. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on FLEX shares. Barclays decreased their price target on Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday. Argus set a $85.00 price objective on shares of Flex in a research report on Friday, October 31st. Bank of America boosted their target price on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Finally, KeyCorp lifted their price objective 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. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.11.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.