Flex Ltd. (NASDAQ:FLEX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its position in Flex Ltd. (NASDAQ:FLEX) by 20.9% in the 4th quarter, Holdings Channel reports. The fund owned 58,903 shares of the technology company’s stock after selling 15,605 shares during the period. Assenagon Asset Management S.A.’s holdings in Flex were worth $2,261,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in Flex during the third quarter worth about $29,000. Huntington National Bank increased its position in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of Flex during the 3rd quarter worth approximately $39,000. Quarry LP acquired a new stake in shares of Flex in the 2nd quarter valued at approximately $43,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

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

Analysts Set New Price Targets

Several research analysts have issued reports on FLEX shares. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. Barclays upped their target price on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flex has a consensus rating of “Buy” and a consensus price target of $42.67.

Flex Price Performance

Shares of NASDAQ FLEX opened at $44.46 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $39.52 and its 200 day moving average price is $34.88. Flex Ltd. has a 52 week low of $22.57 and a 52 week high of $45.10. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.70 and a beta of 1.10.

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.