Sanctuary Advisors LLC Sells 4,583 Shares of Flex Ltd. (NASDAQ:FLEX)

Sanctuary Advisors LLC cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,672 shares of the technology company’s stock after selling 4,583 shares during the period. Sanctuary Advisors LLC’s holdings in Flex were worth $2,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Flex in the third quarter worth about $29,000. Huntington National Bank raised its holdings in shares of Flex by 87.9% in 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. purchased a new position in Flex in the third quarter valued at approximately $39,000. Quarry LP purchased a new stake in Flex in the second quarter worth $43,000. Finally, American Capital Advisory LLC bought a new stake in shares of Flex in the second quarter valued at $46,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of research reports. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Craig Hallum boosted their price target on shares of Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research note on Thursday, October 17th. Barclays increased their target price on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, KeyCorp began coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flex currently has an average rating of “Buy” and an average target price of $42.67.

Flex Stock Up 1.4 %

Shares of NASDAQ FLEX opened at $37.93 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average of $37.31 and a 200-day moving average of $33.28. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.43 and a beta of 1.10. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $42.47.

Insider Buying and Selling at Flex

In other Flex news, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 owns 240,018 shares in the company, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Flex 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.