Flex Ltd. (NASDAQ:FLEX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 20.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,903 shares of the technology company’s stock after selling 15,605 shares during the period. Assenagon Asset Management S.A.’s holdings in Flex were worth $2,261,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FLEX. Harbor Capital Advisors Inc. purchased a new stake in shares of Flex during the third quarter worth $29,000. Huntington National Bank increased its holdings 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 purchasing an additional 479 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Flex in the 3rd quarter valued at about $39,000. Quarry LP purchased a new position in shares of Flex in the 2nd quarter valued at about $43,000. Finally, First Horizon Advisors Inc. grew its position in shares of Flex by 23.6% during the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after buying an additional 305 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’s 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 transaction, the insider now directly owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $44.46 on Thursday. 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 Ltd. has a 1 year low of $22.57 and a 1 year high of $45.10. The company has a market capitalization of $17.24 billion, a PE ratio of 19.67, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a fifty day moving average of $39.52 and a two-hundred day moving average of $34.88.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. Craig Hallum boosted their target price 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. Stifel Nicolaus lifted their price target on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays increased their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $42.67.

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.