Globeflex Capital L P Sells 14,021 Shares of Flex Ltd. (NASDAQ:FLEX)

Globeflex Capital L P trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 74.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,775 shares of the technology company's stock after selling 14,021 shares during the period. Globeflex Capital L P's holdings in Flex were worth $183,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FLEX. Assetmark Inc. grew its stake in shares of Flex by 15.2% in the 3rd quarter. Assetmark Inc. now owns 18,462 shares of the technology company's stock valued at $617,000 after purchasing an additional 2,432 shares during the period. Aigen Investment Management LP bought a new position in Flex in the 3rd quarter valued at $305,000. KBC Group NV increased its stake in shares of Flex by 10.3% in the 3rd quarter. KBC Group NV now owns 10,706 shares of the technology company's stock valued at $358,000 after buying an additional 1,003 shares during the period. Huntington National Bank raised its position in shares of Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock worth $34,000 after acquiring an additional 479 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Flex by 5.5% during the third quarter. CIBC Asset Management Inc now owns 15,132 shares of the technology company's stock valued at $506,000 after acquiring an additional 786 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Trading Up 0.3 %

Shares of FLEX stock traded up $0.11 on Thursday, reaching $36.06. The company had a trading volume of 2,447,100 shares, compared to its average volume of 3,778,374. The company has a 50-day moving average of $39.86 and a 200-day moving average of $37.30. Flex Ltd. has a 12 month low of $25.27 and a 12 month high of $45.10. The stock has a market cap of $13.81 billion, a PE ratio of 14.54, a PEG ratio of 2.43 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

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Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, equities analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now directly owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lay Koon Tan sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus started coverage on Flex in a report on Tuesday, February 11th. They set a "buy" rating and a $52.00 price objective for the company. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Barclays raised their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $44.33.

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.