Graphene Investments SAS Sells 20,800 Shares of Flex Ltd. (NASDAQ:FLEX)

Graphene Investments SAS trimmed its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,600 shares of the technology company's stock after selling 20,800 shares during the quarter. Graphene Investments SAS's holdings in Flex were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. purchased a new stake in Flex during the 3rd quarter valued at about $29,000. Huntington National Bank grew its position in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company's stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. R Squared Ltd purchased a new stake in Flex during the 4th quarter valued at about $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in Flex during the 3rd quarter valued at about $39,000. Finally, First Horizon Advisors Inc. grew its position in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company's stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of FLEX traded down $0.33 on Tuesday, reaching $42.70. The company's stock had a trading volume of 1,995,957 shares, compared to its average volume of 3,687,063. Flex Ltd. has a 12-month low of $25.27 and a 12-month high of $45.10. The stock has a market capitalization of $16.36 billion, a P/E ratio of 17.19, a PEG ratio of 2.58 and a beta of 1.10. The stock's 50 day simple moving average is $40.27 and its two-hundred day simple moving average is $35.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLEX. StockNews.com downgraded shares of Flex from a "buy" rating to a "hold" rating in a report on Saturday, February 1st. Craig Hallum raised their price target on shares of Flex from $39.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday. They set a "buy" rating and a $52.00 price target on the stock. Barclays raised their price target on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Flex presently has an average rating of "Buy" and an average price target of $44.33.

Insider Activity

In related news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the transaction, the insider now directly owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company's stock.

About Flex

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.