Flex Ltd. (NASDAQ:FLEX) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its position in Flex Ltd. (NASDAQ:FLEX) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 893,610 shares of the technology company’s stock after selling 11,898 shares during the quarter. Flex accounts for about 2.7% of Clear Harbor Asset Management LLC’s holdings, making the stock its 5th biggest holding. Clear Harbor Asset Management LLC owned 0.23% of Flex worth $34,306,000 at the end of the most recent reporting period.

Other institutional investors 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 3rd quarter valued at about $29,000. Huntington National Bank boosted its holdings in shares of Flex by 87.9% in the 3rd 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 in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Flex during the third quarter worth about $39,000. Quarry LP acquired a new position in shares of Flex in the 2nd quarter valued at $43,000. Finally, First Horizon Advisors Inc. boosted its stake in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $42.72 on Tuesday. The business has a 50 day moving average price of $39.27 and a 200 day moving average price of $34.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The company has a market capitalization of $16.57 billion, a P/E 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Craig Hallum upped their target price on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Barclays lifted their price objective on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and a consensus target price of $42.67.

Insider Transactions at Flex

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

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.