Flex Ltd. $FLEX Position Lessened by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 844,383 shares of the technology company’s stock after selling 17,601 shares during the quarter. Flex comprises about 2.7% of Clear Harbor Asset Management LLC’s holdings, making the stock its 4th largest position. Clear Harbor Asset Management LLC owned 0.22% of Flex worth $48,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MTM Investment Management LLC purchased a new position in shares of Flex during the second quarter worth about $26,000. Concord Wealth Partners bought a new stake in Flex during the second quarter valued at approximately $28,000. CNB Bank bought a new position in shares of Flex in the 2nd quarter worth $30,000. Harbour Investments Inc. raised its position in shares of Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after buying an additional 301 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Flex by 404.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after acquiring an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Price Performance

Shares of Flex stock opened at $60.38 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22. The business’s 50 day simple moving average is $62.03 and its two-hundred day simple moving average is $57.25. The stock has a market capitalization of $22.33 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total value of $933,150.00. Following the sale, the insider owned 211,198 shares of the company’s stock, valued at $13,138,627.58. This trade represents a 6.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Hurlston sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the director directly owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 107,500 shares of company stock worth $6,593,750 over the last ninety days. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

FLEX has been the topic of a number of research reports. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. The Goldman Sachs Group raised their price objective on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Argus set a $85.00 target price on Flex in a research report on Friday, October 31st. Bank of America increased their price target on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $23.00 price objective on shares of Flex in a report on Wednesday, November 12th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.