National Bank of Canada FI Sells 78,922 Shares of Flex Ltd. (NASDAQ:FLEX)

National Bank of Canada FI trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,539 shares of the technology company’s stock after selling 78,922 shares during the period. National Bank of Canada FI’s holdings in Flex were worth $11,626,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FLEX. Sage Rhino Capital LLC lifted its stake in shares of Flex by 1.1% in the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock valued at $1,358,000 after purchasing an additional 374 shares during the period. Arizona State Retirement System increased its holdings in Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock valued at $4,424,000 after purchasing an additional 403 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company’s stock valued at $38,000 after buying an additional 509 shares during the period. Blair William & Co. IL boosted its holdings in Flex by 4.5% during the fourth quarter. Blair William & Co. IL now owns 13,568 shares of the technology company’s stock worth $521,000 after buying an additional 589 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Flex by 6.4% during the 4th quarter. Atomi Financial Group Inc. now owns 10,413 shares of the technology company’s stock worth $400,000 after buying an additional 630 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares in the company, valued at approximately $10,249,456.14. The trade was a 21.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lay Koon Tan sold 50,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLEX. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Barclays lifted their price target on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus assumed coverage on shares of Flex in a research report on Tuesday, February 11th. They issued a “buy” rating and a $52.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $44.33.

Flex Stock Down 9.0 %

Flex stock opened at $26.68 on Friday. The company has a 50 day moving average of $37.83 and a 200-day moving average of $37.57. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The stock has a market capitalization of $10.22 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. On average, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

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.