Carnegie Investment Counsel Has $2.08 Million Stock Position in Flex Ltd. (NASDAQ:FLEX)

Carnegie Investment Counsel increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 1.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,311 shares of the technology company’s stock after acquiring an additional 1,120 shares during the period. Carnegie Investment Counsel’s holdings in Flex were worth $2,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLEX. Richardson Financial Services Inc. bought a new stake in Flex during the 4th quarter worth $34,000. Quarry LP bought a new stake in Flex during the 2nd quarter worth $43,000. American Capital Advisory LLC bought a new stake in Flex during the 2nd quarter worth $46,000. J.Safra Asset Management Corp grew its position in Flex by 623.6% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock worth $87,000 after acquiring an additional 2,538 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Flex by 37.4% during the 2nd quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock worth $123,000 after acquiring an additional 1,170 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FLEX shares. JPMorgan Chase & Co. upped their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus upped their price target on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and upped their price target for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Finally, Barclays upped their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.40.

Insider Buying and Selling

In related news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David Scott Offer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.78, for a total value of $255,129.84. Following the transaction, the insider now directly owns 175,468 shares in the company, valued at approximately $5,576,373.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,028 shares of company stock valued at $904,530. 0.82% of the stock is owned by company insiders.

Flex Stock Up 3.2 %

Shares of NASDAQ:FLEX opened at $35.11 on Monday. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 0.75. The business’s 50-day moving average is $31.49 and its 200-day moving average is $30.55. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $35.20.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $5.89 billion. Flex had a return on equity of 16.23% and a net margin of 3.54%. Equities research analysts predict that Flex Ltd. will post 2.06 earnings per share for the current year.

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.