Carnegie Investment Counsel Sells 2,615 Shares of Flex Ltd. (NASDAQ:FLEX)

Carnegie Investment Counsel lessened its position in Flex Ltd. (NASDAQ:FLEX) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,696 shares of the technology company’s stock after selling 2,615 shares during the quarter. Carnegie Investment Counsel’s holdings in Flex were worth $2,292,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Flex during the 3rd quarter worth about $29,000. Huntington National Bank lifted its holdings in shares of Flex by 87.9% during the third 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 last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Flex in the third quarter worth $39,000. Quarry LP bought a new position in Flex during the second quarter worth $43,000. Finally, First Horizon Advisors Inc. raised its stake 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 purchasing an additional 305 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the 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 sale, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles K. Stevens III sold 13,157 shares of Flex stock in a transaction dated 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 transaction, the director now directly owns 55,713 shares of the company’s stock, 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. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

FLEX has been the topic of several research analyst reports. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. 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 objective on Flex in a research report on Thursday, October 17th. Finally, 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 note on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $42.67.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $42.72 on Friday. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. The business’s fifty day moving average price is $39.19 and its two-hundred day moving average price is $34.55. Flex Ltd. has a fifty-two week low of $22.02 and a fifty-two week high of $44.45. 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 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.