Graphene Investments SAS Sells 8,400 Shares of Flex Ltd. $FLEX

Graphene Investments SAS trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 12.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,100 shares of the technology company’s stock after selling 8,400 shares during the quarter. Flex accounts for 2.2% of Graphene Investments SAS’s holdings, making the stock its 12th biggest position. Graphene Investments SAS’s holdings in Flex were worth $3,426,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Flex during the fourth quarter worth $260,000. Deutsche Bank AG boosted its stake in Flex by 1.4% in the 1st quarter. Deutsche Bank AG now owns 55,177 shares of the technology company’s stock worth $1,825,000 after purchasing an additional 774 shares during the period. Russell Investments Group Ltd. increased its holdings in Flex by 194.9% during the 1st quarter. Russell Investments Group Ltd. now owns 236,350 shares of the technology company’s stock worth $7,819,000 after purchasing an additional 156,193 shares in the last quarter. Aberdeen Group plc raised its stake in shares of Flex by 157.6% in the 1st quarter. Aberdeen Group plc now owns 320,888 shares of the technology company’s stock valued at $10,615,000 after purchasing an additional 196,334 shares during the period. Finally, Ethic Inc. lifted its holdings in shares of Flex by 3.0% in the first quarter. Ethic Inc. now owns 21,748 shares of the technology company’s stock valued at $726,000 after purchasing an additional 627 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In other Flex news, Director Michael E. Hurlston sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the director owned 58,561 shares in the company, valued at $3,396,538. This represents a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $64.88, for a total value of $811,000.00. Following the transaction, the chief operating officer owned 251,136 shares of the company’s stock, valued at $16,293,703.68. This represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 107,500 shares of company stock worth $6,593,750 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Flex in a research report on Monday. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of Flex in a report on Wednesday, November 12th. Barclays boosted their price objective on shares of Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Bank of America lifted their price target on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

Flex Stock Performance

NASDAQ FLEX opened at $65.01 on Wednesday. The firm has a market capitalization of $24.04 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. 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 firm’s fifty day moving average price is $61.92 and its two-hundred day moving average price is $55.22. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $72.22.

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.