National Bank of Canada FI Sells 78,922 Shares of Flex Ltd. (NASDAQ:FLEX)

National Bank of Canada FI trimmed its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,539 shares of the technology company's stock after selling 78,922 shares during the quarter. National Bank of Canada FI owned 0.08% of Flex worth $11,626,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its position in Flex by 2.2% during the 4th quarter. Boston Partners now owns 26,114,574 shares of the technology company's stock worth $1,006,436,000 after acquiring an additional 569,916 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Flex by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 12,298,896 shares of the technology company's stock worth $472,155,000 after purchasing an additional 817,215 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Flex by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 6,408,070 shares of the technology company's stock valued at $246,006,000 after purchasing an additional 361,049 shares during the period. Norges Bank acquired a new position in Flex during the 4th quarter worth about $229,484,000. Finally, Geode Capital Management LLC lifted its stake in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company's stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. Barclays lifted their price objective on Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, KeyCorp cut their target price on Flex from $46.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $43.33.

Flex Stock Performance

Shares of NASDAQ:FLEX traded down $2.41 during midday trading on Thursday, reaching $29.17. 982,122 shares of the company traded hands, compared to its average volume of 3,950,444. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The firm's fifty day moving average price is $36.67 and its two-hundred day moving average price is $37.48. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

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

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of the company'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 value of $2,162,500.00. Following the completion of the sale, the director now owns 202,850 shares in the company, valued at $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 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.