American Trust Has $233,000 Stock Position in Flex Ltd. (NASDAQ:FLEX)

American Trust cut its position in shares of Flex Ltd. (NASDAQ:FLEX) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,970 shares of the technology company’s stock after selling 729 shares during the period. American Trust’s holdings in Flex were worth $233,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Flex by 441.6% in the second quarter. SG Americas Securities LLC now owns 47,477 shares of the technology company’s stock valued at $1,400,000 after acquiring an additional 38,711 shares during the last quarter. Diversified Trust Co bought a new stake in Flex in the second quarter worth $217,000. Envestnet Portfolio Solutions Inc. increased its position in Flex by 2.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 66,126 shares of the technology company’s stock worth $1,950,000 after buying an additional 1,552 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Flex by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 71,434 shares of the technology company’s stock valued at $2,107,000 after buying an additional 2,090 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Flex by 37.4% during the 2nd quarter. Blue Trust Inc. now owns 4,299 shares of the technology company’s stock worth $123,000 after acquiring an additional 1,170 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of the business’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 transaction of $509,044.33. Following the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm’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 completion of the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLEX. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Craig Hallum lifted 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. Barclays upped their price objective on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, KeyCorp initiated coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target for the company. Six 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.67.

Flex Price Performance

NASDAQ:FLEX opened at $38.38 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. Flex Ltd. has a one year low of $21.84 and a one year high of $42.47. The company has a fifty day moving average price of $37.07 and a 200 day moving average price of $33.19. The stock has a market cap of $14.88 billion, a P/E ratio of 16.98, a PEG ratio of 2.43 and a beta of 1.10.

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.