Hyperion Capital Advisors LP Makes New Investment in Flex Ltd. (NASDAQ:FLEX)

Hyperion Capital Advisors LP acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the third quarter, HoldingsChannel reports. The institutional investor acquired 7,922 shares of the technology company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Boston Partners increased its holdings in shares of Flex by 113.8% in the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after acquiring an additional 10,201,162 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Flex by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,978,522 shares of the technology company’s stock valued at $235,289,000 after acquiring an additional 127,688 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Flex by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,095,907 shares of the technology company’s stock valued at $237,216,000 after acquiring an additional 31,214 shares during the period. Vanguard Group Inc. increased its holdings in shares of Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after acquiring an additional 141,580 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after acquiring an additional 2,170,262 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insiders Place Their Bets

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $38.82 on Thursday. The firm has a market capitalization of $15.05 billion, a P/E ratio of 17.18, a PEG ratio of 2.61 and a beta of 1.08. Flex Ltd. has a one year low of $21.84 and a one year high of $42.47. The company’s fifty day moving average is $35.68 and its two-hundred day moving average is $32.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLEX shares. KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Craig Hallum boosted their price objective on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research note on Thursday, October 17th. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $40.83.

Flex Company 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.