Hilltop National Bank Reduces Stock Position in Flex Ltd. (NASDAQ:FLEX)

Hilltop National Bank lowered its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 6.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,391 shares of the technology company’s stock after selling 393 shares during the quarter. Hilltop National Bank’s holdings in Flex were worth $207,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. First Horizon Advisors Inc. raised its position in Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock valued at $53,000 after purchasing an additional 305 shares in the last quarter. Stephens Inc. AR raised its position in Flex by 2.6% during the 3rd quarter. Stephens Inc. AR now owns 14,106 shares of the technology company’s stock valued at $472,000 after purchasing an additional 361 shares in the last quarter. Raymond James Trust N.A. raised its position in Flex by 2.0% during the 3rd quarter. Raymond James Trust N.A. now owns 20,720 shares of the technology company’s stock valued at $693,000 after purchasing an additional 413 shares in the last quarter. Huntington National Bank raised its position in Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after purchasing an additional 479 shares in the last quarter. Finally, Wahed Invest LLC raised its position in Flex by 7.4% during the 3rd quarter. Wahed Invest LLC now owns 9,637 shares of the technology company’s stock valued at $322,000 after purchasing an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the sale, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares in the company, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Flex Trading Down 2.1 %

Shares of NASDAQ:FLEX opened at $40.21 on Friday. The business’s 50-day moving average is $38.78 and its 200 day moving average is $34.09. Flex Ltd. has a 1 year low of $21.84 and a 1 year high of $44.45. The firm has a market capitalization of $15.59 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group set a $39.00 price target on Flex in a research report on Thursday, October 17th. Barclays boosted their price target on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Craig Hallum boosted their price target on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered Flex from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, KeyCorp started coverage on Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flex presently has a consensus rating of “Buy” and an average target price of $42.67.

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.