National Bank of Canada FI Sells 73,973 Shares of Flex Ltd. (NASDAQ:FLEX)

National Bank of Canada FI decreased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,265 shares of the technology company’s stock after selling 73,973 shares during the period. National Bank of Canada FI owned about 0.08% of Flex worth $10,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLEX. Measured Wealth Private Client Group LLC bought a new position in shares of Flex in the 4th quarter worth approximately $219,000. Sapient Capital LLC bought a new position in Flex in the fourth quarter worth approximately $774,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Flex during the 4th quarter worth $212,000. LSV Asset Management grew its position in shares of Flex by 0.7% during the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock valued at $214,660,000 after acquiring an additional 51,068 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Flex by 319.7% in the 4th quarter. First Horizon Advisors Inc. now owns 4,613 shares of the technology company’s stock worth $141,000 after purchasing an additional 3,514 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 2.0 %

Shares of FLEX stock opened at $28.56 on Thursday. The stock’s 50-day moving average price is $28.52 and its 200-day moving average price is $26.93. Flex Ltd. has a 12-month low of $20.69 and a 12-month high of $30.93. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 75,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares in the company, valued at $4,460,826.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87. Following the sale, the insider now directly owns 159,718 shares in the company, valued at $4,601,475.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 75,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares in the company, valued at approximately $4,460,826.88. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock valued at $4,055,311 in the last quarter. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FLEX. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $28.00 to $27.00 in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on shares of Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 4th. StockNews.com assumed coverage on Flex in a research report on Wednesday, March 6th. They issued a “hold” rating on the stock. Finally, Barclays increased their target price on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

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.