Fulton Bank N.A. Invests $334,000 in Flex Ltd. (NASDAQ:FLEX)

Fulton Bank N.A. acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,322 shares of the technology company’s stock, valued at approximately $334,000.

Other large investors have also recently bought and sold shares of the company. Boston Partners boosted its position in Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after purchasing an additional 10,201,162 shares during the period. LSV Asset Management raised its holdings in Flex by 0.7% in the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock worth $214,660,000 after acquiring an additional 51,068 shares during the period. Vanguard Group Inc. lifted its position in Flex by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after acquiring an additional 141,580 shares during the last quarter. Norges Bank bought a new stake in Flex during the fourth quarter valued at about $165,000,000. Finally, Sound Shore Management Inc. CT increased its stake in shares of Flex by 3.4% in the fourth quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock worth $117,942,000 after purchasing an additional 128,766 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Insider Activity at Flex

In other news, CAO Daniel Wendler sold 1,670 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total value of $54,325.10. Following the sale, the chief accounting officer now owns 27,060 shares in the company, valued at approximately $880,261.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP David Scott Offer sold 34,097 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total value of $976,879.05. Following the completion of the sale, the executive vice president now directly owns 145,692 shares in the company, valued at $4,174,075.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Daniel Wendler sold 1,670 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the transaction, the chief accounting officer now owns 27,060 shares in the company, valued at approximately $880,261.80. The disclosure for this sale can be found here. Insiders have sold a total of 804,543 shares of company stock valued at $25,167,991 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FLEX has been the subject of several research reports. Barclays increased their price objective on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $38.40.

Flex Price Performance

NASDAQ FLEX traded up $0.56 during trading on Tuesday, reaching $28.75. 3,498,487 shares of the company traded hands, compared to its average volume of 4,519,449. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.40. The stock’s 50 day moving average price is $30.90 and its two-hundred day moving average price is $29.02. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 2.03 and a beta of 1.12.

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.