Flex Ltd. (NASDAQ:FLEX) Stock Position Reduced by Clayton Partners LLC

Clayton Partners LLC trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 18.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,829 shares of the technology company’s stock after selling 53,047 shares during the period. Flex accounts for about 5.4% of Clayton Partners LLC’s holdings, making the stock its 3rd largest holding. Clayton Partners LLC owned about 0.06% of Flex worth $6,748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. purchased a new stake in Flex in the fourth quarter valued at $352,000. Assetmark Inc. boosted its position in shares of Flex by 50.8% in the 4th quarter. Assetmark Inc. now owns 14,641 shares of the technology company’s stock valued at $446,000 after purchasing an additional 4,931 shares during the period. Edmond DE Rothschild Holding S.A. grew its stake in Flex by 52.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 4,502 shares of the technology company’s stock worth $137,000 after buying an additional 1,540 shares during the last quarter. Douglass Winthrop Advisors LLC acquired a new position in Flex during the fourth quarter worth approximately $201,000. Finally, Oliver Luxxe Assets LLC lifted its stake in Flex by 1.8% in the fourth quarter. Oliver Luxxe Assets LLC now owns 110,007 shares of the technology company’s stock valued at $3,351,000 after buying an additional 1,952 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on FLEX. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and upped their price target for the company from $27.00 to $39.00 in a research report on Thursday, July 25th. Barclays upped their price objective on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their target price on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price target on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $38.40.

Flex Stock Performance

NASDAQ FLEX opened at $32.93 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $30.70 and its two-hundred day moving average is $30.06. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.74 and a beta of 1.09. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Research analysts expect that Flex Ltd. will post 2.09 EPS for the current year.

Insider Buying and Selling at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Kwang Hooi Tan sold 8,028 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the completion of the transaction, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,028 shares of company stock valued at $904,530. Corporate insiders own 0.82% of the company’s stock.

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.