Blueshift Asset Management LLC Sells 4,590 Shares of Flex Ltd. (NASDAQ:FLEX)

Blueshift Asset Management LLC cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 32.9% during the third quarter, Holdings Channel reports. The fund owned 9,377 shares of the technology company’s stock after selling 4,590 shares during the period. Blueshift Asset Management LLC’s holdings in Flex were worth $313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Flex by 2.4% in the first quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after buying an additional 141,580 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Flex by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,742 shares of the technology company’s stock valued at $1,824,000 after acquiring an additional 2,522 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Flex by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,299 shares of the technology company’s stock worth $251,000 after acquiring an additional 471 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Flex during the first quarter valued at approximately $821,000. Finally, Atria Investments Inc acquired a new stake in shares of Flex in the first quarter valued at approximately $2,399,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Down 2.8 %

Flex stock opened at $38.82 on Friday. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.61 and a beta of 1.08. The company’s 50 day simple moving average is $35.80 and its 200 day simple moving average is $32.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $42.47.

Insiders Place Their Bets

In related news, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FLEX shares. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Barclays lifted their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research report on Thursday, October 17th. Craig Hallum lifted their price target on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, KeyCorp started coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $40.83.

About Flex

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.