Yousif Capital Management LLC Lowers Holdings in Flex Ltd. (NASDAQ:FLEX)

Yousif Capital Management LLC trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,245 shares of the technology company’s stock after selling 1,145 shares during the period. Yousif Capital Management LLC’s holdings in Flex were worth $464,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in shares of Flex by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock valued at $368,000 after acquiring an additional 497 shares in the last quarter. Wahed Invest LLC raised its stake in shares of Flex by 8.1% in the third quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock valued at $191,000 after acquiring an additional 530 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Flex by 1.5% in the third quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock valued at $1,100,000 after acquiring an additional 589 shares in the last quarter. Veracity Capital LLC raised its stake in Flex by 7.8% in the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock valued at $251,000 after buying an additional 599 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Flex by 8.4% in the fourth quarter. Global Retirement Partners LLC now owns 8,746 shares of the technology company’s stock valued at $266,000 after buying an additional 679 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Performance

NASDAQ FLEX opened at $29.19 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.59 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52-week low of $20.41 and a 52-week high of $30.93. The business’s 50-day moving average price is $28.48 and its 200 day moving average price is $26.88. The firm has a market cap of $12.29 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.74 and a beta of 1.18.

Insider Buying and Selling at Flex

In other Flex news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at approximately $830,009.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Rebecca Sidelinger sold 13,675 shares of Flex stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $27.99, for a total transaction of $382,763.25. Following the completion of the sale, the insider now directly owns 161,913 shares in the company, valued at approximately $4,531,944.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the sale, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at $830,009.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,943 shares of company stock valued at $4,055,311. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of analyst reports. Craig Hallum cut Flex from a “buy” rating to a “hold” rating and cut their price target for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. StockNews.com initiated coverage on Flex in a research note on Wednesday, March 6th. They issued a “hold” rating on the stock. Barclays raised their price target on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group raised their price objective on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. raised their price objective on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

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.