Flex Ltd. $FLEX is Clear Harbor Asset Management LLC’s 4th Largest Position

Clear Harbor Asset Management LLC lowered its stake in Flex Ltd. (NASDAQ:FLEX) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 844,383 shares of the technology company’s stock after selling 17,601 shares during the quarter. Flex makes up 2.7% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 4th biggest holding. Clear Harbor Asset Management LLC’s holdings in Flex were worth $48,949,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FLEX. Hilltop National Bank purchased a new stake in shares of Flex in the second quarter worth $351,000. Voya Investment Management LLC boosted its stake in Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after purchasing an additional 690,611 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Flex by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after purchasing an additional 453,455 shares during the last quarter. Sowell Financial Services LLC increased its stake in Flex by 220.6% during the 3rd quarter. Sowell Financial Services LLC now owns 24,891 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 17,128 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Flex by 27.1% in the second quarter. Prudential Financial Inc. now owns 189,280 shares of the technology company’s stock worth $9,449,000 after buying an additional 40,330 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

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 1 year low of $25.11 and a 1 year high of $72.22. The company has a market cap 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. The stock’s fifty day moving average price is $62.03 and its 200-day moving average price is $57.25.

Insider Buying and Selling at Flex

In related news, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares in the company, valued at approximately $5,346,939.96. The trade was a 16.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Kwang Hooi Tan sold 12,500 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $64.88, for a total transaction of $811,000.00. Following the sale, the chief operating officer directly owned 251,136 shares of the company’s stock, valued at approximately $16,293,703.68. The trade was a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 107,500 shares of company stock worth $6,593,750. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on FLEX. The Goldman Sachs Group increased their price target on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. KeyCorp increased their target price on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Bank of America lifted their price objective on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.88.

About Flex

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.