Clear Harbor Asset Management LLC Has $30.27 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

Clear Harbor Asset Management LLC cut its stake in Flex Ltd. (NASDAQ:FLEX) by 0.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 905,508 shares of the technology company’s stock after selling 400 shares during the quarter. Flex makes up approximately 2.5% of Clear Harbor Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Clear Harbor Asset Management LLC owned approximately 0.23% of Flex worth $30,271,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. acquired a new position in Flex in the 3rd quarter valued at $39,000. Quarry LP acquired a new position in shares of Flex in the second quarter valued at about $43,000. American Capital Advisory LLC bought a new position in Flex during the second quarter worth about $46,000. J.Safra Asset Management Corp boosted its holdings in Flex by 623.6% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,945 shares of the technology company’s stock valued at $87,000 after purchasing an additional 2,538 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Flex by 79.4% in the third quarter. Whittier Trust Co. now owns 3,284 shares of the technology company’s stock valued at $110,000 after buying an additional 1,453 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Craig Hallum upgraded shares of Flex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. KeyCorp assumed coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 target price for the company. Barclays upped their target price on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lifted their price target on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $39.17.

Flex Stock Up 0.6 %

Shares of NASDAQ:FLEX opened at $35.21 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.75 and a current ratio of 1.40. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $35.84. The company has a market capitalization of $13.98 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. The company has a fifty day moving average of $32.49 and a 200-day moving average of $30.97.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, beating 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 the consensus estimate of $5.89 billion. On average, equities analysts predict that Flex Ltd. will post 2.06 EPS for the current fiscal year.

Insider Transactions at Flex

In related news, insider Kwang Hooi Tan sold 8,028 shares of Flex 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 sale, the insider now directly owns 175,468 shares in the company, valued at $5,576,373.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Flex news, EVP David Scott Offer sold 10,000 shares of Flex stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the transaction, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total value of $255,129.84. Following the completion of the sale, the insider now directly owns 175,468 shares of the company’s stock, valued at approximately $5,576,373.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,028 shares of company stock worth $904,530. 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.