American Trust Sells 729 Shares of Flex Ltd. (NASDAQ:FLEX)

American Trust decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,970 shares of the technology company’s stock after selling 729 shares during the quarter. American Trust’s holdings in Flex were worth $233,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FLEX. Harbor Capital Advisors Inc. bought a new position in shares of Flex during the 3rd quarter valued at about $29,000. Huntington National Bank lifted its stake in Flex by 87.9% in the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after acquiring an additional 479 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Flex during the 3rd quarter worth approximately $39,000. Quarry LP acquired a new stake in shares of Flex in the second quarter valued at approximately $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex in the second quarter worth $46,000. Institutional investors own 94.30% of the company’s stock.

Flex Stock Up 0.6 %

Shares of FLEX opened at $38.38 on Friday. The firm has a 50 day simple moving average of $37.07 and a two-hundred day simple moving average of $33.19. The company has a market cap of $14.88 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.43 and a beta of 1.10. Flex Ltd. has a one year low of $21.84 and a one year high of $42.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

Insider Transactions at Flex

In other news, insider Kwang Hooi Tan sold 8,028 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lifted 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. KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. The Goldman Sachs Group set a $39.00 price target on Flex in a research note on Thursday, October 17th. Craig Hallum upped their price objective on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on Flex from $40.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target 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.