Flex Ltd. (NASDAQ:FLEX) Shares Sold by Graphene Investments SAS

Graphene Investments SAS reduced its position in shares of Flex Ltd. (NASDAQ:FLEX) by 22.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 71,600 shares of the technology company’s stock after selling 20,800 shares during the period. Graphene Investments SAS’s holdings in Flex were worth $2,749,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after acquiring an additional 305 shares during the period. Stephens Inc. AR boosted its stake in shares of Flex by 2.6% in the third quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after purchasing an additional 361 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Flex by 2.0% in the third quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after purchasing an additional 413 shares in the last quarter. Huntington National Bank increased its stake 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 buying an additional 479 shares during the period. Finally, Atomi Financial Group Inc. increased its position in shares of Flex by 6.4% during the fourth quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after acquiring an additional 630 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Craig Hallum lifted their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. StockNews.com cut shares of Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. Finally, Barclays raised their price objective on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.67.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $44.25 on Friday. The company’s fifty day moving average price is $40.07 and its 200 day moving average price is $35.70. The firm has a market capitalization of $17.16 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.43 and a beta of 1.10. Flex Ltd. has a 12 month low of $24.11 and a 12 month high of $45.10. 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 (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. As a group, sell-side analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.