Blueshift Asset Management LLC Has $313,000 Stake in Flex Ltd. (NASDAQ:FLEX)

Blueshift Asset Management LLC lowered its position in Flex Ltd. (NASDAQ:FLEX) by 32.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,377 shares of the technology company’s stock after selling 4,590 shares during the period. Blueshift Asset Management LLC’s holdings in Flex were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the 3rd quarter valued at $29,000. Huntington National Bank increased its position in 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 buying an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Flex during the third quarter valued at about $39,000. Quarry LP bought a new stake in shares of Flex during the 2nd quarter worth about $43,000. Finally, American Capital Advisory LLC acquired a new position in shares of Flex during the 2nd quarter valued at about $46,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Down 2.8 %

FLEX stock opened at $38.82 on Friday. The business’s 50-day simple moving average is $35.80 and its 200 day simple moving average is $32.56. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market cap of $15.05 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $42.47.

Insider Transactions at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the sale, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now owns 55,713 shares of the company’s stock, 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. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FLEX shares. The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. Barclays raised their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Craig Hallum upped 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. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, KeyCorp started coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $40.83.

Flex Company 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.