Flex Ltd. (NASDAQ:FLEX) Holdings Decreased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 893,610 shares of the technology company’s stock after selling 11,898 shares during the quarter. Flex accounts for 2.7% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 5th largest position. Clear Harbor Asset Management LLC’s holdings in Flex were worth $34,306,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Flex in the third quarter valued at $29,000. Huntington National Bank increased its holdings in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of Flex in the 3rd quarter valued at approximately $39,000. Quarry LP acquired a new stake in Flex during the second quarter worth about $43,000. Finally, First Horizon Advisors Inc. lifted its holdings in Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Flex Stock Up 0.8 %

FLEX stock opened at $42.72 on Tuesday. 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 firm has a market cap of $16.57 billion, a PE ratio of 18.90, a PEG ratio of 2.70 and a beta of 1.10. Flex Ltd. has a 1 year low of $22.02 and a 1 year high of $44.45. The company has a fifty day simple moving average of $39.27 and a 200 day simple moving average of $34.71.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FLEX shares. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. Barclays boosted their target price 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. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Stifel Nicolaus raised their target price on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Craig Hallum raised their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $42.67.

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.