Qsemble Capital Management LP Sells 5,888 Shares of Flex Ltd. (NASDAQ:FLEX)

Qsemble Capital Management LP cut its position in Flex Ltd. (NASDAQ:FLEX) by 11.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,922 shares of the technology company’s stock after selling 5,888 shares during the period. Qsemble Capital Management LP’s holdings in Flex were worth $1,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of Flex in the 3rd quarter valued at about $29,000. Huntington National Bank grew its holdings in Flex by 87.9% during the third 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. acquired a new position in Flex during the third quarter worth approximately $39,000. Quarry LP bought a new stake in Flex in the second quarter valued at approximately $43,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Flex in the second quarter valued at approximately $46,000. 94.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FLEX shares. Craig Hallum increased their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a research note on Thursday, October 17th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Barclays upped their target price on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.83.

Flex Trading Down 0.6 %

Shares of Flex stock opened at $41.07 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $42.47. The company has a market capitalization of $15.93 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.63 and a beta of 1.08. The firm’s 50-day moving average price is $35.12 and its two-hundred day moving average price is $32.31.

Insider Activity at Flex

In related news, Director Charles K. Stevens III sold 13,157 shares of Flex 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 sale, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total transaction of $284,110.92. Following the completion of the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $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 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.