Atria Investments Inc Reduces Stake in Flex Ltd. (NASDAQ:FLEX)

Atria Investments Inc lessened its stake in Flex Ltd. (NASDAQ:FLEX) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,894 shares of the technology company’s stock after selling 3,227 shares during the quarter. Atria Investments Inc’s holdings in Flex were worth $2,805,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Flex in the third quarter valued at $29,000. Kathleen S. Wright Associates Inc. bought a new stake in Flex in the 3rd quarter valued at about $39,000. Quarry LP purchased a new stake in Flex during the second quarter valued at about $43,000. American Capital Advisory LLC bought a new position in Flex during the second quarter worth about $46,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Flex in the third quarter worth about $74,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Down 0.3 %

NASDAQ FLEX opened at $37.86 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $14.68 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.41 and a beta of 1.08. The stock’s 50-day simple moving average is $33.82 and its two-hundred day simple moving average is $31.77. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $40.30.

Insider Buying and Selling at Flex

In related news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the executive vice president now owns 168,094 shares of the company’s stock, valued at approximately $5,377,327.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the transaction, the director now directly owns 55,713 shares of the company’s stock, valued at approximately $2,155,535.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Scott Offer sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.99, for a total value of $319,900.00. Following the completion of the sale, the executive vice president now directly owns 168,094 shares in the company, valued at $5,377,327.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,185 shares of company stock worth $1,442,555 over the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on FLEX shares. KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Barclays upped their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.83.

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.