By otakuyassine3@gmail.com 
D. Scott Neal Inc. cut its holdings in Flex Ltd. (NASDAQ:FLEX – Free Report) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,500 shares of the technology company’s stock after selling 951 shares during the period. Flex comprises approximately 5.8% of D. Scott Neal Inc.’s portfolio, making the stock its 6th biggest holding. D. Scott Neal Inc. owned about 0.07% of Flex worth $10,576,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of FLEX. Geode Capital Management LLC raised its position in Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock worth $149,350,000 after acquiring an additional 3,844,935 shares during the period. Merewether Investment Management LP bought a new stake in shares of Flex in the 2nd quarter worth approximately $72,808,000. Charles Schwab Investment Management Inc. lifted its stake in Flex by 462.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after purchasing an additional 2,170,262 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Flex by 1,242.5% during the second quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company’s stock valued at $21,495,000 after purchasing an additional 792,700 shares during the period. Finally, Simcoe Capital Management LLC purchased a new stake in Flex in the third quarter worth $22,075,000. 94.30% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. The Goldman Sachs Group set a $39.00 price objective 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. Barclays upped their price target on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $42.67.
Check Out Our Latest Analysis on FLEX
Flex Price Performance
FLEX stock opened at $41.92 on Thursday. The firm has a 50 day moving average of $39.09 and a 200-day moving average of $34.41. The firm has a market capitalization of $16.26 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 2.44 and a beta of 1.10. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $44.45. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.
Insider Buying and Selling at Flex
In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at $2,155,535.97. This represents a 19.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 240,018 shares in the company, valued at approximately $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.
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.
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