Sanctuary Advisors LLC Has $2.30 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Sanctuary Advisors LLC reduced its stake in Flex Ltd. (NASDAQ:FLEX) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,672 shares of the technology company’s stock after selling 4,583 shares during the quarter. Sanctuary Advisors LLC’s holdings in Flex were worth $2,296,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Flex in the 3rd quarter worth approximately $29,000. Huntington National Bank lifted its holdings in Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock valued at $34,000 after buying an additional 479 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in Flex during the third quarter valued at $39,000. Quarry LP acquired a new stake in Flex during the 2nd quarter worth about $43,000. Finally, American Capital Advisory LLC bought a new position in shares of Flex in the 2nd quarter worth about $46,000. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Performance

NASDAQ FLEX opened at $37.93 on Thursday. The company has a market cap of $14.71 billion, a P/E ratio of 16.78, a PEG ratio of 2.43 and a beta of 1.10. The company has a fifty day simple moving average of $37.31 and a 200 day simple moving average of $33.28. The company has a current ratio of 1.43, a quick ratio of 0.85 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.

Wall Street Analyst Weigh In

Several brokerages recently commented on FLEX. KeyCorp assumed coverage on Flex in a research 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 objective on shares of Flex in a research report on Thursday, October 17th. Barclays lifted their price objective 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. Stifel Nicolaus increased their target price on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.67.

Insider Buying and Selling at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the transaction, the director now owns 55,713 shares in the company, valued at $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total value of $284,110.92. Following the sale, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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.