OLD National Bancorp IN Has $240,000 Position in Flex Ltd. (NASDAQ:FLEX)

OLD National Bancorp IN trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 16.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,260 shares of the technology company’s stock after selling 1,256 shares during the period. OLD National Bancorp IN’s holdings in Flex were worth $240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. bought a new stake in Flex during the 3rd quarter worth approximately $29,000. Huntington National Bank grew its stake in shares of Flex by 87.9% in the third 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 last quarter. R Squared Ltd acquired a new stake in Flex in the fourth quarter valued at $35,000. Kathleen S. Wright Associates Inc. bought a new position in Flex during the 3rd quarter worth $39,000. Finally, Quarry LP acquired a new position in Flex during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the firm’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 transaction, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FLEX shares. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. Barclays boosted their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus increased their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price on the stock. Finally, Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flex currently has an average rating of “Buy” and an average price target of $43.67.

Flex Trading Down 1.0 %

NASDAQ:FLEX opened at $41.65 on Monday. The firm has a fifty day simple moving average of $39.96 and a two-hundred day simple moving average of $35.48. Flex Ltd. has a 12 month low of $23.64 and a 12 month high of $45.10. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.61 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.70 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%. Analysts expect that Flex Ltd. will post 2.16 EPS for the current fiscal year.

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.