Flex Ltd. (NASDAQ:FLEX) Shares Sold by Camden National Bank

Camden National Bank decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,847 shares of the technology company’s stock after selling 457 shares during the quarter. Camden National Bank’s holdings in Flex were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of Flex in the fourth quarter worth about $1,697,000. One Wealth Advisors LLC purchased a new position in shares of Flex in the 4th quarter valued at about $368,000. JPMorgan Chase & Co. raised its holdings in Flex by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company’s stock worth $202,152,000 after purchasing an additional 296,505 shares during the period. Mutual of America Capital Management LLC acquired a new stake in Flex in the fourth quarter valued at approximately $7,864,000. Finally, KBC Group NV grew its holdings in Flex by 872.7% in the fourth quarter. KBC Group NV now owns 104,132 shares of the technology company’s stock valued at $3,998,000 after purchasing an additional 93,426 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLEX has been the topic of a number of recent analyst reports. Stifel Nicolaus began coverage on Flex in a research report on Tuesday, February 11th. They set a “buy” rating and a $52.00 target price on the stock. Barclays increased their price objective on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five 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.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $44.33.

Insider Buying and Selling at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lay Koon Tan sold 50,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $43.25, for a total transaction of $2,162,500.00. Following the completion of the sale, the director now directly owns 202,850 shares of the company’s stock, valued at $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

Flex Trading Up 0.7 %

NASDAQ FLEX opened at $34.70 on Friday. The firm’s fifty day moving average is $40.69 and its two-hundred day moving average is $37.14. Flex Ltd. has a one year low of $25.27 and a one year high of $45.10. The firm has a market cap of $13.29 billion, a PE ratio of 13.99, a P/E/G ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

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.