Hanson & Doremus Investment Management lessened its stake in Flex Ltd (NASDAQ:FLEX) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 122,613 shares of the technology company’s stock after selling 1,653 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Flex were worth $1,547,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Flex by 7.0% during the second quarter. Victory Capital Management Inc. now owns 21,925,054 shares of the technology company’s stock valued at $209,822,000 after purchasing an additional 1,441,216 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Flex by 7.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 17,331,085 shares of the technology company’s stock worth $165,859,000 after buying an additional 1,223,008 shares during the period. Boston Partners lifted its stake in Flex by 0.6% in the third quarter. Boston Partners now owns 14,034,252 shares of the technology company’s stock valued at $146,970,000 after buying an additional 83,667 shares in the last quarter. Sachem Head Capital Management LP bought a new position in Flex in the third quarter valued at approximately $114,069,000. Finally, Macquarie Group Ltd. lifted its stake in Flex by 3.2% in the second quarter. Macquarie Group Ltd. now owns 5,063,993 shares of the technology company’s stock valued at $48,462,000 after buying an additional 157,948 shares in the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.
Shares of NASDAQ:FLEX traded down $0.06 during mid-day trading on Thursday, reaching $13.35. 66,078 shares of the stock were exchanged, compared to its average volume of 2,747,330. The stock’s 50 day simple moving average is $12.31 and its 200-day simple moving average is $10.96. Flex Ltd has a one year low of $7.79 and a one year high of $13.43. The company has a market cap of $6.80 billion, a P/E ratio of 74.14, a P/E/G ratio of 2.49 and a beta of 1.84. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.
In related news, CFO Christopher Collier sold 35,000 shares of Flex stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $11.72, for a total value of $410,200.00. Following the sale, the chief financial officer now owns 1,214,143 shares of the company’s stock, valued at approximately $14,229,755.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David P. Bennett sold 19,000 shares of Flex stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.66, for a total value of $240,540.00. The disclosure for this sale can be found here. In the last three months, insiders sold 126,124 shares of company stock worth $1,498,481. 0.42% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Goldman Sachs Group boosted their price objective on shares of Flex from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut shares of Flex from an “overweight” rating to a “neutral” rating in a research report on Thursday, January 2nd. Zacks Investment Research raised shares of Flex from a “strong sell” rating to a “hold” rating and set a $8.75 target price for the company in a research note on Wednesday, September 25th. Finally, ValuEngine cut Flex from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.58.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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