Coldstream Capital Management Inc. Sells 1,372 Shares of Flex Ltd. $FLEX

Coldstream Capital Management Inc. cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,677 shares of the technology company’s stock after selling 1,372 shares during the period. Coldstream Capital Management Inc.’s holdings in Flex were worth $533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rise Advisors LLC purchased a new stake in shares of Flex in the 1st quarter worth $25,000. MTM Investment Management LLC purchased a new position in Flex during the second quarter valued at $26,000. Concord Wealth Partners bought a new stake in Flex during the second quarter valued at about $28,000. CNB Bank bought a new position in shares of Flex in the second quarter worth about $30,000. Finally, Harbour Investments Inc. raised its stake in shares of Flex by 74.7% in the second quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after buying an additional 301 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. KeyCorp lifted their target price on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Flex from $66.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.75.

Insider Buying and Selling at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the transaction, the chief accounting officer directly owned 37,619 shares of the company’s stock, valued at $2,131,492.54. This trade represents a 21.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Kwang Hooi Tan sold 12,500 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $64.88, for a total transaction of $811,000.00. Following the completion of the sale, the chief operating officer owned 251,136 shares in the company, valued at approximately $16,293,703.68. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 152,500 shares of company stock worth $9,011,950. Company insiders own 0.57% of the company’s stock.

Flex Trading Up 1.8%

Shares of FLEX stock opened at $58.40 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $67.00. The stock’s 50-day moving average price is $60.20 and its 200-day moving average price is $53.00.

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.