Flex Ltd. (NASDAQ:FLEX) Stake Reduced by Qsemble Capital Management LP

Qsemble Capital Management LP trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,922 shares of the technology company’s stock after selling 5,888 shares during the period. Qsemble Capital Management LP’s holdings in Flex were worth $1,502,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in Flex during the third quarter valued at $29,000. Huntington National Bank increased its holdings in shares of Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the third quarter valued at approximately $39,000. Quarry LP purchased a new stake in shares of Flex during the second quarter worth $43,000. Finally, American Capital Advisory LLC bought a new position in shares of Flex during the 2nd quarter valued at $46,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, 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. Company insiders own 0.82% of the company’s stock.

Flex Trading Down 0.6 %

Shares of FLEX stock opened at $41.07 on Tuesday. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $42.47. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.63 and a beta of 1.08. The firm has a fifty day moving average of $35.12 and a 200-day moving average of $32.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43.

Analysts Set New Price Targets

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

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.