Insigneo Advisory Services LLC Has $661,000 Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Insigneo Advisory Services LLC cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 13.5% during the 4th quarter, HoldingsChannel reports. The fund owned 17,211 shares of the technology company’s stock after selling 2,687 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Flex were worth $661,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Flex during the 4th quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Flex by 112.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock worth $38,000 after buying an additional 509 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Flex in the 4th quarter valued at about $38,000. Huntington National Bank raised its position in shares of Flex by 46.7% in the 4th quarter. Huntington National Bank now owns 1,502 shares of the technology company’s stock valued at $58,000 after buying an additional 478 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Flex by 82.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $60,000 after acquiring an additional 704 shares during the period. 94.30% of the stock is owned by institutional investors.

Insider Activity at Flex

In related news, 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 sale, the director now directly owns 202,850 shares in the company, valued at $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael P. Hartung sold 64,807 shares of the firm’s 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 transaction, the insider now owns 233,526 shares of the company’s stock, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Flex Stock Performance

NASDAQ:FLEX opened at $31.54 on Friday. The stock’s 50-day moving average is $35.22 and its 200-day moving average is $37.35. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $45.10. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.08 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share 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%. Equities research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on FLEX shares. JPMorgan Chase & Co. lowered their price objective on shares of Flex from $52.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays boosted their price target on Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. KeyCorp lowered their target price on Flex from $46.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus began coverage on shares of Flex in a report on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $43.67.

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.